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Fabrinet: Fiscal 4Q Earnings Snapshot

August 17, 2020 GMT

GEORGE TOWN, Cayman Islands (AP) _ Fabrinet (FN) on Monday reported fiscal fourth-quarter earnings of $28 million.

The George Town, Cayman Islands-based company said it had net income of 75 cents per share. Earnings, adjusted for stock option expense and asset impairment costs, came to 96 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $405.1 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $388.5 million.

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For the year, the company reported profit of $113.5 million, or $3.01 per share. Revenue was reported as $1.64 billion.

For the current quarter ending in October, Fabrinet expects its per-share earnings to range from 93 cents to $1.

The company said it expects revenue in the range of $410 million to $430 million for the fiscal first quarter.

Fabrinet shares have climbed 15% since the beginning of the year. In the final minutes of trading on Monday, shares hit $74.44, a climb of 41% in the last 12 months.

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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