GRAND CAYMAN, Cayman Islands (AP) — GRAND CAYMAN, Cayman Islands (AP) — Fabrinet (FN) on Monday reported fiscal second-quarter net income of $112.6 million.
The Grand Cayman, Cayman Islands-based company said it had net income of $3.11 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $3.36 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.26 per share.
The company that assembles optical, electro-mechanical and electronic devices for other companies posted revenue of $1.13 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $1.08 billion.
For the current quarter ending in March, Fabrinet expects its per-share earnings to range from $3.45 to $3.60.
The company said it expects revenue in the range of $1.15 billion to $1.2 billion for the fiscal third quarter.
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