BANGKOK – Fabrinet reported fiscal fourth quarter 2016 revenue ended June 24 of $276.4 million, an increase of 34% year-over-year.

GAAP net income was $19.7 million, up 51.5% compared to the same quarter in 2015.

“Strong revenue growth of 34% exceeded our expectations for the fourth quarter,” said CEO Tom Mitchell. “These results capped a year of significant growth for Fabrinet, which was driven by a combination of momentum in the optical industry, growing contributions from new customers, and increasing demand for our advanced packaging and precision assembly capabilities. We believe that we are in a strong position to serve the industry’s growth as we scale our Fabrinet West New Product Introduction facility and complete construction of the first building at our new campus in Thailand.”

For fiscal year 2016, revenue was $976.7 million, up 26% year-over-year. GAAP net income was $61.9 million, up 41.9% compared to fiscal year 2015.

Fabrinet expects fiscal first quarter 2017 revenue in the range of $306 million to $310 million.

Register now for PCB West, the Silicon Valley's largest trade show for the printed circuit industry, taking place Sept. 13-15 in Santa Clara: PCBWEST.COM

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