GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal fourth-quarter earnings of $87.2 million.
On a per-share basis, the Grand Cayman, Cayman Islands-based company said it had net income of $2.42. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.65 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $909.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $883.1 million.
For the year, the company reported profit of $332.5 million, or $9.17 per share. Revenue was reported as $3.42 billion.
For the current quarter ending in September, Fabrinet expects its per-share earnings to range from $2.75 to $2.90.
The company said it expects revenue in the range of $910 million to $950 million for the fiscal first quarter.
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