BANGKOK – Fabrinet reported fiscal first quarter revenue of $332 million, an increase of 53% year-over-year.

GAAP net income for the quarter ended Sept. 30 was $22.8 million, up 1,325% compared to fiscal first quarter 2016.

“We are off to a strong start in fiscal 2017, with first quarter revenue that exceeded our expectations and grew more than 50% from a year ago. We are benefiting from positive trends in the optical industry, including increasing activity from new and existing customer programs,” said CEO Tom Mitchell. “We believe we are in a strong position to serve industry demand with new capacity from the first building at our new campus in Chonburi, Thailand, and our growing new product introduction operation in Santa Clara. Our recent acquisition of Exception EMS, UK extends our NPI capabilities while diversifying our customer base. With continued momentum, we are optimistic we can again deliver strong growth in the second quarter, as reflected in our business outlook.”

Fabrinet expects fiscal second quarter revenue in the range of $332 million to $336 million.

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