Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Fabrinet Announces Q1 Fiscal Year 2023 Financial Results
November 8, 2022 | Business WireEstimated reading time: 1 minute
Fabrinet, a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, announced its financial results for its first quarter of fiscal year 2023 ended September 30, 2022.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “We delivered strong revenue that exceeded our guidance and executed well to produce robust margins, particularly for a first quarter. This performance, combined with favorable foreign exchange tailwinds helped produce earnings per share that were well above the high-end of our guidance range. We are optimistic that favorable demand trends and our track record of execution will extend into the second quarter to produce another quarter of strong financial results.”
First Quarter Fiscal Year 2023 Financial Highlights
GAAP Results
- Revenue for the first quarter of fiscal year 2023, a 14-week quarter, was $655.4 million, compared to $543.3 million for the first quarter of fiscal year 2022, a 13-week quarter.
- GAAP net income for the first quarter of fiscal year 2023 was $64.6 million, compared to $44.7 million for the first quarter of fiscal year 2022.
- GAAP net income per diluted share for the first quarter of fiscal year 2023 was $1.76, compared to $1.20 for the first quarter of fiscal year 2022.
Non-GAAP Results
- Non-GAAP net income for the first quarter of fiscal year 2023 was $72.4 million, compared to $54.2 million for the first quarter of fiscal year 2022.
- Non-GAAP net income per diluted share for the first quarter of fiscal year 2023 was $1.97, compared to $1.45 for the first quarter of fiscal year 2022.
Business Outlook
Based on information available as of November 7, 2022, Fabrinet is issuing guidance for its second quarter of fiscal year 2023, a 13-week quarter ending December 30, 2022, as follows:
- Fabrinet expects second quarter revenue to be in the range of $640 million to $660 million.
- GAAP net income per diluted share is expected to be in the range of $1.67 to $1.74, based on approximately 37.6 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.86 to $1.93, based on approximately 37.6 million fully diluted shares outstanding.
Share on:
Suggested Items
L3Harris Completes Sale of Commercial Aviation Solutions Business to TJC for $800 Million
03/31/2025 | BUSINESS WIREL3Harris Technologies has completed the previously announced sale of its Commercial Aviation Solutions (CAS) business to an affiliate of TJC L.P. for $800 million. The entire $800 million cash purchase price was paid to L3Harris at the closing of the transaction.
Sypris Reports Fourth Quarter Results
03/27/2025 | BUSINESS WIREThe Company’s gross profit for the quarter increased 23.1% from the prior-year period, while gross margin expanded 350 basis points.
LPKF Reports Results for Full Year 2024
03/27/2025 | LPKFThe technology company LPKF Laser & Electronics SE published today its annual report for 2024. Despite the challenging economic conditions for the German mechanical engineering industry, LPKF was able to maintain its revenue slightly below the previous year's level at EUR 122.9 million.
HANZA Acquires Outstanding Shares in Leden Subsidiary
03/19/2025 | HANZAOn March 3, 2025, HANZA AB completed the acquisition of 100% of the shares in the Finnish group Leden Group Oy. Leden also owned approximately 90% of the subsidiary Leden Estonia AS, and HANZA has acquired the remaining shares, which means that the company becomes a wholly owned subsidiary.
SigmaTron Reports Financial Results for Q3 of Fiscal 2025
03/17/2025 | SigmaTron International Inc.For the three month period ended January 31, 2025, revenues decreased $24.8 million, or 26 percent, to $71.1 million compared to $95.9 million for the same quarter in the prior year.