Nolan’s Notes: Everyone Has Their Eye on India
Standard of Excellence: The Human Touch in an Automated World
The Government Circuit: Navigating New Trade Headwinds and New Partnerships
Fabrinet Q3 FY2017 Revenue Up 46%
May 9, 2017 | FabrinetEstimated reading time: 2 minutes
Fabrinet has announced revenue (GAAP) of $366.8 million for the third quarter of fiscal year 2017, an increase of 46% compared to revenue of $250.9 million for the comparable period in fiscal year 2016.
GAAP net income for the third quarter ended March 31, 2017 was $21.7 million, compared to GAAP net income of $20.8 million in the third quarter of fiscal year 2016. GAAP net income for the third quarter of fiscal year 2017 included a foreign exchange loss of $3.7 million, or $0.10 per diluted share.
GAAP net income per diluted share for the third quarter of fiscal year 2017 was $0.57, compared to GAAP net income per diluted share of $0.56 in the third quarter of fiscal year 2016.
"We had a strong third quarter, with revenue that exceeded our guidance range and grew 46% from a year ago. We are benefiting from growth in a variety of existing customer programs that are further supported by new business. Our new facility in Chonburi, Thailand and our new product introduction facilities in Santa Clara, California and the UK are also making important contributions that we expect to expand as we look ahead," said Tom Mitchell, Chief Executive Officer of Fabrinet.
Non-GAAP Results
- Non-GAAP net income in the third quarter of fiscal 2017 was $30.5 million, an increase of 46% compared to non-GAAP net income of $20.8 million in the third quarter of fiscal year 2016. Non-GAAP net income for the third quarter of fiscal year 2017 included a foreign exchange loss of $3.7 million, or $0.10 per diluted share.
- Non-GAAP net income per diluted share in the third quarter of fiscal 2017 was $0.80, compared to non-GAAP net income per diluted share of $0.56 in the third quarter of fiscal year 2016.
Business Outlook
Based on information available as of May 8, 2017, Fabrinet is issuing guidance for the fourth quarter of fiscal year 2017 ending June 30, 2017, as follows:
- Fabrinet expects revenue for the fourth quarter to be in the range of $361 million to $365 million.
- GAAP net income per diluted share is expected to be in the range of $0.65 to $0.67, based on approximately 38.2 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $0.82 to $0.84, based on approximately 38.2 million fully diluted shares outstanding.
About Fabrinet
Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and test. Fabrinet focuses on production of high complexity products in any mix and any volume. Fabrinet maintains engineering and manufacturing resources and facilities in Thailand, the United States of America, the People's Republic of China and the United Kingdom. For more information click here.
Share on:
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Defense Speak Interpreted: If CHIPS Cuts Back, What Happens to Electronics Packaging Funds?
09/02/2025 | Dennis Fritz -- Column: Defense Speak InterpretedIn my May column, I examined the topic of the CHIPS Act and its current status as a U.S. government program. I found that CHIPS activities continue, but some corporations have delayed or canceled them because of budget cuts or corporation-specific problems. However, CHIPS integrated circuits—mostly administered by the Department of Commerce—don’t fully drive the electronics interconnection activity being funded by the government. Let’s cover the progress/status of other programs:
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
Eltek Ltd. Reports Strong Second-Quarter 2025 Results
08/14/2025 | PR NewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2025.
Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO
08/14/2025 | PR NewswireMagnachip Semiconductor Corporation today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Amidst U.S. Strategy Shift, Foxconn Sells Lordstown, Ohio Plant for $88 Million
08/07/2025 | I-Connect007 Editorial TeamAs part of a strategic shift in its US operations, Taiwan-based Foxconn (Hon Hai Precision Industry’s) subsidiaries are selling off assets at its Lordstown, Ohio, facility, the company announced on Aug. 4.