SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
Standard of Excellence: Overcoming Service Failures—The Art of the Apology
Nolan’s Notes: Tariffs, Technologies, and Optimization
Fabrinet Posts 24% Revenue Growth in Q2 FY 2016
February 16, 2016 | FabrinetEstimated reading time: 2 minutes
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 25, 2015.
Tom Mitchell, Chief Executive Officer of Fabrinet, said, "We delivered a strong second quarter with record revenue and strong profitability. Upside in the quarter was driven by a combination of growth from new customer programs and increasing production from existing customer programs, as we benefit from technology investments that we continue to make. While we have sufficient capacity to meet our growing customer demand for several quarters, construction of the first new building at our new campus outside Bangkok is underway, which will help drive further profitable growth over the longer-term."
Second quarter Fiscal-Year 2016 Financial Highlights
GAAP Results
- Revenue was $233.0 million for the second quarter of fiscal year 2016, an increase of 24% compared to total revenue of $188.4 million for the comparable period in fiscal year 2015.
- GAAP net income for the second quarter of fiscal year 2016 was $19.8 million, compared to GAAP net income of $8.7 million in the second quarter of fiscal year 2015.
- GAAP net income per diluted share for the second quarter of fiscal year 2016 was $0.54, compared to GAAP net income per diluted share of $0.24 in the second quarter of fiscal year 2015.
Non-GAAP Results
- Non-GAAP net income in the second quarter of fiscal 2016 was $18.2 million, an increase of 26% compared to non-GAAP net income of $14.4 million in the same period a year ago.
- Non-GAAP net income per diluted share in the second quarter of fiscal 2016 was $0.50, an increase from non-GAAP net income per diluted share of $0.40 in the same period a year ago.
Business Outlook
Based on information available as of February 1, 2016, Fabrinet is issuing guidance for the third quarter of fiscal 2016 ending March 25, 2016, as follows:
- Fabrinet expects third quarter revenue to be in the range of $240 million to $244 million.
- GAAP net income per diluted share is expected to be in the range of $0.47 to $0.49, based on approximately 36.8 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $0.52 to $0.54, based on approximately 36.8 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 People's Republic of China and the United States of America.
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
Firefly Aerospace Announces Strategic Acquisition of SciTec to Advance National Security Capabilities
10/07/2025 | Firefly AerospaceFirefly Aerospace, a market leading space and defense technology company, has entered into a definitive agreement to acquire SciTec, Inc., a leader in advanced national security technologies, for approximately $855 million through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share.
High-Tech Hill Technology Park Opens: Four New Factories Launched
09/26/2025 | TeltonikaThe ambitious vision announced in late 2020 to build a world-class technology park in Liepkalnis, Vilnius, has become a reality. AGP Investments, led by entrepreneur Arvydas Paukštys, together with high-tech leaders Teltonika and TLT, today inaugurated four new factories at the Vilnius High-Tech Hill Technology Park.
U.S. Manufacturing Jobs Decline Amid Tariffs and Immigration Crackdown
09/17/2025 | I-Connect007 Editorial TeamManufacturers in the U.S. are cutting jobs even as President Donald Trump pushes policies he says will revitalize the industry. Employers shed 12,000 manufacturing jobs in August, while payrolls in the sector have fallen by 42,000 since April, according to a new analysis from the Center for American Progress (CAP) based on government labor data.
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.