GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal third-quarter profit of $80.9 million.
On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had profit of $2.21. Earnings, adjusted for stock option expense and amortization costs, came to $2.39 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.12 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $731.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $718.9 million.
For the current quarter ending in June, Fabrinet expects its per-share earnings to range from $2.20 to $2.27.
The company said it expects revenue in the range of $720 million to $740 million for the fiscal fourth quarter.
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