GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal first-quarter earnings of $77.4 million.
The Grand Cayman, Cayman Islands-based company said it had net income of $2.13 per share. Earnings, adjusted for stock option expense and severance costs, were $2.39 per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of $2.39 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $804.2 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $770.3 million.
For the current quarter ending in December, Fabrinet expects its per-share earnings to range from $2.44 to $2.52.
The company said it expects revenue in the range of $800 million to $820 million for the fiscal second quarter.
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