BANGKOK – Fabrinet reported fiscal fourth quarter revenue of $370.5 million, up 34% year-over-year.

GAAP net income for the quarter ended June 30 was $27.4 million, up 39% compared to the same period in 2016.

“Our strong fourth quarter performance, with revenue and net income per diluted share that exceeded our guidance ranges, represented an excellent finish to a record year for Fabrinet,” Tom Mitchell, CEO of Fabrinet. “The fourth quarter was our 12th consecutive quarter of year-over-year revenue growth, at 34%.

“In addition to delivering a strong financial performance, fiscal year 2017 was also significant from a strategic perspective. We substantially increased our manufacturing capacity and further developed our new product introduction capabilities, especially outside the optical communications market, positioning us to generate strong returns from a diversifying customer base. With our expanded capacity and a robust pipeline of opportunities, we are optimistic our success in fiscal year 2017 will extend into fiscal year 2018.”

Revenue was $1.4 billion for fiscal 2017, an increase of 45% compared to fiscal year 2016. GAAP net income was $97.1 million, an increase of 57% year-over-year.
Fabrinet expects revenue for the first quarter of fiscal year 2018 ending Sept. 29 of $356 million to $360 million.

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