Financial Performance Card and Outlook - Report on Fabrinet

NEW YORK, September 10, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Fabrinet (NYSE: FN). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=FN  

Highlights from our FN Report include:

• Announcement of Fourth Quarter Financial Results - Fabrinet, the company that assembles optical, electro-mechanical and electronic devices for other companies, published results for the fourth quarter and fiscal year ended June 26, 2015, on August 17, 2015. For Q4 2015, the Company reported a 29% growth in total revenue to $206.5 million, as against $160.1 million in the corresponding period of the previous year. As per the Company, this was the highest quarterly revenue till date, Fabrinet has ever earned. Further, GAAP net income stood at $13.0 million, or $0.36 per diluted share, for the fourth quarter of fiscal 2015, compared to GAAP net income of $10.3 million, or $0.29 per diluted share in the year-ago period.

• Results for Fiscal 2015 - For the full year, the Company observed a 14% growth in total revenue to $773.6 million, compared to total revenue of $677.9 million in the same period a year earlier. GAAP net income for 2015 was seen at $43.6 million, or $1.21 per diluted share compared to GAAP net income of $91.7 million, or $2.58 per diluted share, in 2014. The Company informed that the collection of insurance proceeds positively impacted the GAAP net income for 2014 by $44.0 million, or $1.24 per diluted share.

• Management Comments and Outlook for Q1 2016 - Commenting on the healthy financial performance, the Company's Chief Executive Officer, Tom Mitchell remarked, "We ended fiscal 2015 on a strong note with record revenue and growth across all our market segments." He added, "As we start fiscal 2016, I am confident that our initiatives to expand our new product introduction and advanced packaging capabilities, combined with our focus on total customer satisfaction and world-class quality will enable us to deliver another year of profitable growth in fiscal 2016." While providing guidance for the first quarter of the fiscal year ending 2016, Fabrinet said that it expects the revenue to be in the range of $206 million to $210 million. Furthermore, Based on approximately 36.5 million fully diluted shares outstanding, Fabrinet said that for Q1 2016 GAAP net income per diluted share is expected to be in the range of $0.33 to $0.35 while non-GAAP net income per diluted share is anticipated to range $0.41 to $0.43.

To find out how this influences our rating on Fabrinet, read the full report in its entirety here: http://www.aciassociation.com/?c=FN

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