Fabrinet ( (FN) ) has released its Q2 earnings. Here is a breakdown of the information Fabrinet presented to its investors.
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Fabrinet is a prominent company specializing in advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services for original equipment manufacturers across diverse sectors, including optical communication and automotive components, with operations in Thailand, the USA, China, and Israel.
For its second fiscal quarter ending December 27, 2024, Fabrinet reported record revenue and earnings per share, surpassing its previous guidance. The company attributed its robust performance to strong demand in its telecom sector and progress in recent system wins, despite a slight moderation in datacom demand.
The financial highlights for the quarter included a total revenue of $833.6 million, marking an increase from $712.7 million in the same quarter of the previous year. GAAP net income rose to $86.6 million, with a corresponding GAAP net income per diluted share of $2.38. On a non-GAAP basis, net income was $95.1 million, with an earnings per share of $2.61. In addition, Fabrinet expanded its share repurchase program by authorizing an additional $100 million, indicating confidence in its financial health.
Looking ahead, Fabrinet has set its third-quarter revenue guidance between $850 million and $870 million and anticipates GAAP net income per diluted share ranging from $2.32 to $2.40. The company remains optimistic about its growth prospects, particularly in datacom as next-generation products commence production.
