BANGKOK, THAILAND – Fabrinet reported fiscal third quarter revenue of $332.2 million, down 9.4% year-over-year.

For the quarter ended Mar. 30, GAAP net income was $21.1 million, down 2.8% compared the same period in 2017.

“We again exceeded our revenue guidance in the third quarter of fiscal 2018,” said Tom Mitchell, executive chairman of Fabrinet. “With stabilizing demand and increasing interest in our capabilities, we are confident we can deliver sequential growth in the fourth quarter and further strengthen our position in the marketplace.”

“We continue to benefit from a mix of established programs and new business, which contributes to our growth and diversification,” said CEO Seamus Grady. “Our position in the market continues to strengthen as our diverse customers look to Fabrinet to manufacture their most challenging designs.”

Fabrinet expects fiscal fourth quarter revenue in the range of $334 million to $342 million.