Fabrinet Q4 Results Top Estimates

(RTTNews) - Fabrinet (FN) reported net income for the fourth quarter of $13.0 million or $0.36 per share, compared to $10.3 million or $0.29 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $14.5 million or $0.40 per share, compared to $12.1 million or $0.34 per share in the prior year quarter.

Total revenue for the fourth quarter rose 29% to a record $206.5 million from $160.1 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.39 per share on revenue of $197.73 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts revenue of $206 million to $210 million, earnings of $0.33 to $0.35 per share and adjusted earnings of $0.41 to $0.43 per share. Analysts currently expect the company to earn $0.42 per share on revenue of $203.49 million for the first quarter.