GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal first-quarter net income of $95.9 million.
The Grand Cayman, Cayman Islands-based company said it had net income of $2.66 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.92 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.83 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $978.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $936.2 million.
For the current quarter ending in December, Fabrinet expects its per-share earnings to range from $3.15 to $3.30.
The company said it expects revenue in the range of $1.05 billion to $1.1 billion for the fiscal second quarter.
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