Fabrinet (NYSE: FN), a provider of precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced its financial results for the third quarter of fiscal 2012, ended March 30, 2012.
Fabrinet reported total revenue of $139.0 million for the third quarter of fiscal 2012, a decrease of 28.7% compared to revenue of $194.9 million for the comparable period in fiscal 2011. GAAP net loss in the third quarter was $(46.3) million, or $(1.35) per diluted share compared to GAAP net income of $16.7 million, or $0.49 per diluted share in the third quarter of 2011. Non-GAAP net income in the third quarter was $9.9 million, or $0.28 per diluted share, a decrease of 48.0% compared to non-GAAP net income of $19.0 million, or $0.55 per share in the third quarter of 2011.
Tom Mitchell, Chief Executive Officer of Fabrinet, said, “I am pleased to report that through the continued hard work and dedication of our staff, we remain on a strong recovery path. We are excited that building 6 is complete and fully available for customers. Despite the recent flooding, we continue to win new business and customer confidence in our value proposition remains solid.”
Business OutlookBased on information available as of May 7, 2012, Fabrinet is issuing guidance for the fourth quarter of fiscal 2012 as follows: The company expects fourth quarter revenue to be in the range of $139 million to $143 million. Non-GAAP net income per share is expected to be in the range of $0.25 to $0.27, based on approximately 34.9 million fully diluted, weighted average shares outstanding. Conference Call Information
|What:||Fabrinet Third Quarter 2012 Financial Results Conference Call|
|When:||Monday, May 7, 2012|
|Time:||5:00 p.m. ET|
|Live Call:||(888) 357-3694, domestic|
|(253) 237-1137, international|
|Replay:||(855) 859-2056, domestic|
|(404) 537-3406, international|
|Webcast:||http://investor.fabrinet.com/ (live and replay)|
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