Fabrinet: Fiscal Q1 Earnings Snapshot
GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal first-quarter earnings of $65.1 million.
On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had profit of $1.78. Earnings, adjusted for stock option expense and amortization costs, came to $2 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $685.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $659.3 million.
For the current quarter ending in December, Fabrinet expects its per-share earnings to range from $1.98 to $2.05.
The company said it expects revenue in the range of $680 million to $700 million for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FN at https://www.zacks.com/ap/FN
