SMT Perspectives and Prospects: The AI Era, Part 3: LLMs, SLMs, and Foundation Models
Punching Out: What Buyers Are Buying
‘Deepfake’ ComponentsFabrinet Announces Q3 Fiscal Year 2023 Financial Results
May 9, 2023 | 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 third fiscal quarter ended March 31, 2023.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “Revenue in the third quarter was above our guidance range, and we demonstrated the operating leverage inherent in our business model. While near-term inventory adjustments are affecting some parts of our business, the impacts are being somewhat offset by growth from other customer programs and continued gradual improvements in component availability. Our strong execution continues to benefit our bottom line results and we remain well-positioned to extend our success.”
Third Quarter Fiscal Year 2023 Financial Highlights
GAAP Results
- Revenue for the third quarter of fiscal year 2023 was $665.3 million, compared to $564.4 million for the third quarter of fiscal year 2022.
- GAAP net income for the third quarter of fiscal year 2023 was $59.4 million, compared to $50.7 million for the third quarter of fiscal year 2022.
- GAAP net income per diluted share for the third quarter of fiscal year 2023 was $1.60, compared to $1.35 for the third quarter of fiscal year 2022.
Non-GAAP Results
- Non-GAAP net income for the third quarter of fiscal year 2023 was $71.8 million, compared to $56.2 million for the third quarter of fiscal year 2022.
- Non-GAAP net income per diluted share for the third quarter of fiscal year 2023 was $1.94, compared to $1.50 for the third quarter of fiscal year 2022.
Business Outlook
Based on information available as of May 8, 2023, Fabrinet is issuing guidance for its fourth fiscal quarter ending June 30, 2023, as follows:
- Fabrinet expects fourth quarter revenue to be in the range of $630 million to $650 million.
- GAAP net income per diluted share is expected to be in the range of $1.57 to $1.64, based on approximately 37.0 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.76 to $1.83, based on approximately 37.0 million fully diluted shares outstanding.
Share on:
Suggested Items
Global Satellite IoT Subscriber Base to Reach 26.7 Million by 2028
10/14/2024 | Berg InsightThe global satellite IoT communications market is growing at a good steady pace according to a new research report from specialist IoT analyst firm Berg Insight.
Compal Reports Solid September 2024 Sales, Maintains Growth Trajectory
10/14/2024 | Compal Electronics Inc.Compal Electronics Inc. announced consolidated revenue of NT$83.766 million for September 2024.
Smiths Detection Awarded Service Subcontract
10/10/2024 | BUSINESS WIRESmiths Detection, a global leader in threat detection and security screening technologies, announces it has been awarded a seven year contract to support TechFlow’s Integrated Logistics Support Contract with the Transportation Security Administration (TSA) to service hold baggage X-ray inspection systems at airports across the United States.
Scanfil Acquires SRX, Expanding its Presence in Asia Pacific
10/07/2024 | ScanfilScanfil has acquired SRXGlobal Pty Ltd. for EUR 23.3 million (USD 25.7 million), marking a key step in its Asia Pacific expansion. This acquisition includes SRX factories in Melbourne, Australia, and Johor Bahru, Malaysia, with 8 automated SMT lines and about 300 employees.
Electronic System Design Industry Posts $4.7 Billion in Revenue in Q2 2024
10/07/2024 | SEMIElectronic System Design (ESD) industry revenue increased 18.2% to $4,685.5 million in the second quarter of 2024 from the $3,962.7 million registered in the second quarter of 2023, the ESD Alliance, a SEMI Technology Community, announced in its latest Electronic Design Market Data (EDMD) report.