BANGKOK – Fabrinet posted revenue of $216.4 million for the period ended Sept. 25, an increase of 14% year-over-year.

Fiscal first quarter 2016 GAAP net income was $1.6 million, down 85.5% compared to the same period of fiscal 2015.

The company expects revenue to continue to grow with the addition of new facilities in the US and Thailand.

"We are off to a strong start in fiscal 2016, with first quarter revenue and non-GAAP profitability that exceeded our expectations,” said CEO Tom Mitchell. “In addition to beginning production at our new product introduction and advanced packaging facility in Santa Clara, we recently broke ground on the first building of what will become a second manufacturing campus in Thailand. We expect this added space to enable us to continue scaling our business as our current facilities reach capacity levels. With overall manufacturing space at our new campus that will ultimately represent a more than doubling of capacity, we are setting the stage for continued profitable growth as we look ahead.”

Fabrinet expects fiscal second quarter revenue to be in the range of $218 million to $222 million.

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