Fabrinet (NYSE: FN), 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 the first quarter of fiscal 2013 ended September 28, 2012.
Fabrinet reported total revenue of $158.6 million for the first quarter of fiscal 2013, a decrease of 14.9% compared to total revenue of $186.3 million for the comparable period in fiscal 2012. GAAP net income for the first quarter was $16.0 million, or $0.46 per diluted share, an increase of 1.9% compared to GAAP net income of $15.7 million, or $0.45 per diluted share, in the first quarter of fiscal 2012. Non-GAAP net income in the first quarter of fiscal 2013 was $12.8 million, or $0.36 per diluted share, a decrease of 22.9% compared to non-GAAP net income of $16.6 million, or $0.48 per diluted share, in the same period a year ago.
Tom Mitchell, Chief Executive Officer of Fabrinet, said, “Fiscal 2013 is off to a solid start and I am pleased with the results that we delivered in our first quarter. We are excited about the new business opportunities in front of us and we remain committed to delivering consistent value to all of our customers.”
Business OutlookBased on information available as of November 5, 2012, Fabrinet is issuing guidance for the second quarter of fiscal 2013 as follows: Fabrinet expects second quarter revenue to be in the range of $159 million to $163 million. GAAP net income per share is expected to be in the range of $0.32 to $0.34 with expected non-GAAP net income per share of $0.35 to $0.37, based on approximately 35 million fully diluted shares outstanding. Conference Call Information
|What:||Fabrinet First Quarter 2013 Financial Results Conference Call|
|When:||Monday, November 5, 2012|
|Time:||5:00 p.m. ET|
|Live Call:||(888) 357-2056, 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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