-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Fabrinet Announces Q1 Fiscal Year 2024 Financial Results
November 8, 2023 | BUSINESS WIREEstimated reading time: 1 minute
Fabrinet, a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, announced its financial results for its first fiscal quarter ended September 29, 2023.
Seamus Grady, Chief Executive Officer of Fabrinet, said, “We had a very strong start to the year with revenue and net income per share that were above our guidance ranges, and also marked new quarterly records. Industry-wide inventory adjustments continue to affect certain programs, but these declines were more than offset by quickly ramping new programs. We continue to carefully manage costs, which resulted in strong bottom-line results. We expect to extend our strong execution into the second quarter, as reflected in our guidance.”
First Quarter Fiscal Year 2024 Financial Highlights
GAAP Results
Revenue for the first quarter of fiscal year 2024, a thirteen-week quarter, was $685.5 million, compared to $655.4 million for the first quarter of fiscal year 2023, a fourteen-week quarter.
GAAP net income for the first quarter of fiscal year 2024 was $65.1 million, compared to $64.6 million for the first quarter of fiscal year 2023.
GAAP net income per diluted share for the first quarter of fiscal year 2024 was $1.78, compared to $1.76 for the first quarter of fiscal year 2023.
Non-GAAP Results
- Non-GAAP net income for the first quarter of fiscal year 2024 was $72.8 million, compared to $72.4 million for the first quarter of fiscal year 2023.
- Non-GAAP net income per diluted share for the first quarter of fiscal year 2024 was $2.00, compared to $1.97 for the first quarter of fiscal year 2023.
Business Outlook
Based on information available as of November 6, 2023, Fabrinet is issuing guidance for its second fiscal quarter ending December 29, 2023, as follows:
- Fabrinet expects second quarter revenue to be in the range of $680 million to $700 million.
- GAAP net income per diluted share is expected to be in the range of $1.78 to $1.85, based on approximately 36.5 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.98 to $2.05, based on approximately 36.5 million fully diluted shares outstanding.
Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items. A reconciliation of non-GAAP net income per diluted share to the corresponding GAAP measure is available at the end of this press release.
Suggested Items
Lockheed Martin Australia, The Department Of Defence Sign Strategic Partnership Head Contract
04/26/2024 | Lockheed MartinLockheed Martin Australia signed a landmark AUD$500 million contract with the Department of Defence to build Australia’s future Joint Air Battle Management System under project - AIR6500 Phase 1 (AIR6500-1).
Amphenol Reports Q1 2024 Results, Announces New Stock Repurchase Program
04/26/2024 | BUSINESS WIREAmphenol Corporation reported first quarter 2024 results. In addition, the Company is announcing a new three-year, $2 billion stock repurchase program.
KLA Corporation Reports Fiscal 2024 Third Quarter Results
04/26/2024 | KLAKLA Corporation announced financial and operating results for its third quarter of fiscal year 2024, which ended on March 31, 2024, and reported GAAP net income of $601.5 million and GAAP earnings per diluted share of $4.43 on revenue of $2.36 billion.
SMC Korea 2024 to Highlight Semiconductor Materials Trends and Innovations on Industry’s Path to $1 Trillion
04/24/2024 | SEMIWith Korea a major consumer of semiconductor materials and advanced materials a key driver of innovation on the industry’s path to $1 trillion, industry leaders and experts will gather at SMC (Strategic Materials Conference) Korea 2024 on May 29 at the Suwon Convention Center in Gyeonggi-do, South Korea to provide insights into the latest materials developments and trends. Registration is open.
Taiyo Circuit Automation Installs New DP3500 into Fuba Printed Circuits, Tunisia
04/25/2024 | Taiyo Circuit AutomationTaiyo Circuit Automation is proud to be partnered with Fuba Printed Circuits, Tunisia part of the OneTech Group of companies, a leading printed circuit board manufacturer based out of Bizerte, Tunisia, on their first installation of Taiyo Circuit Automation DP3500 coater.