Standard of Excellence: The Human Touch in an Automated World
The Government Circuit: Navigating New Trade Headwinds and New Partnerships
Global Sourcing Spotlight: How to Evaluate Supplier Capabilities Worldwide
Fabrinet Announces Q2 Fiscal Year 2024 Financial Results
February 6, 2024 | FabrinetEstimated 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, today announced its financial results for its second fiscal quarter ended December 29, 2023.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “Our strong second quarter results exceeded our guidance ranges and also represented record levels for revenue and net income per share. We continued to see strong datacom revenue growth, which helped drive our overall top line performance. We remain confident that newer datacom programs will significantly contribute to our results as we look ahead. Telecom revenue moderated by a smaller amount than anticipated in the quarter, and we are optimistic that the impact of ongoing inventory adjustments in the telecom market could continue to diminish. With continued business momentum, we are well-positioned to extend our track record of strong execution into the third quarter.”
Second Quarter Fiscal Year 2024 Financial Highlights
GAAP Results
- Revenue for the second quarter of fiscal year 2024 was $712.7 million, compared to $668.7 million for the second quarter of fiscal year 2023.
- GAAP net income for the second quarter of fiscal year 2024 was $69.1 million, compared to $63.2 million for the second quarter of fiscal year 2023.
- GAAP net income per diluted share for the second quarter of fiscal year 2024 was $1.89, compared to $1.71 for the second quarter of fiscal year 2023.
Non-GAAP Results
- Non-GAAP net income for the second quarter of fiscal year 2024 was $76.1 million, compared to $70.0 million for the second quarter of fiscal year 2023.
- Non-GAAP net income per diluted share for the second quarter of fiscal year 2024 was $2.08, compared to $1.90 for the second quarter of fiscal year 2023.
Business Outlook
Based on information available as of February 5, 2024, Fabrinet is issuing guidance for its third fiscal quarter ending March 29, 2024, as follows:
- Fabrinet expects third quarter revenue to be in the range of $705 million to $725 million.
- GAAP net income per diluted share is expected to be in the range of $1.89 to $1.96, based on approximately 36.6 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $2.08 to $2.15, based on approximately 36.6 million fully diluted shares outstanding.
Share on:
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Datest Unveils Viscom iX7059 XL 3D CT AXI System
08/25/2025 | DatestDatest, a trusted leader in advanced testing, engineering, inspection, and failure analysis services, and the go-to destination for when your boards misbehave and your AXI line goes on vacation, is thrilled to announce the arrival of its newest diagnostic weapon: the Viscom iX7059 XL 3D CT AXI Inspection System.
Polar Instruments Announces Additive Transmission Line Support for Si9000e
08/20/2025 | Polar InstrumentsTransmission lines embedded into the PCB surface are a feature of UHDI constructions. The 2025 fall release of Polar's Si9000e PCB impedance & insertion loss transmission line field solver incorporates eight new single ended, differential and coplanar transmission line structures.
Axxon-Mycronic Brings High-Performance Conformal Coating to productronica India 2025
08/20/2025 | Axxon-MycronicAxxon-Mycronic, a leading, global supplier of innovative and production-ready, dispensing and conformal coating systems, is pleased to announce its participation in productronica India 2025, taking place September 17–19 at the Bangalore International Exhibition Centre (BIEC).
The Marketing Minute: Staying Positive When the Market Isn’t
08/20/2025 | Brittany Martin -- Column: The Marketing MinuteIn today’s volatile electronics market, buffeted by tariffs, supply-chain shifts, and squeezed margins, it’s tempting to tighten belts and cut your marketing budget. But history shows us that the quietest brands get forgotten fastest. Staying visible is not a luxury; it’s a competitive advantage.
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.