Fabrinet: Fiscal 3Q Earnings Snapshot
GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal third-quarter earnings of $28.3 million.
On a per-share basis, the George Town, Cayman Islands-based company said it had profit of 75 cents. Earnings, adjusted for stock option expense and non-recurring costs, were 92 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $411.2 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $414.8 million.
For the current quarter ending in June, Fabrinet expects its per-share earnings to range from 80 cents to 92 cents.
The company said it expects revenue in the range of $370 million to $400 million for the fiscal fourth quarter.
Fabrinet shares have fallen slightly more than 9% since the beginning of the year. In the final minutes of trading on Monday, shares hit $58.74, a decline of roughly 3% in the last 12 months.