BANGKOK – Fabrinet reported fiscal third quarter revenue of $411.2 million, up 3% year-over-year.

GAAP net income for the quarter ended Mar. 27 was $28.3 million, down 1% compared to the same quarter last year. GAAP net income included a foreign exchange loss of $8,000, compared to a foreign exchange loss of $3.1 million for the fiscal third quarter of 2019.

“We quickly adjusted to a changing business environment in the third quarter to safely remain operational, demonstrating the flexibility inherent in our business model,” said CEO Seamus Grady. “As a result, our financial results for the quarter were within our guidance ranges. Looking ahead, we will continue to benefit from our flexible operating model and highly variable cost structure to generate solid results during this rapidly changing business environment. Keeping our employees safe and healthy remains our top priority, and this enables us to continue providing the highest levels of service to our customers, reinforcing our strong reputation and leadership position in the market.”

Fabrinet expects fiscal fourth quarter revenue in the range of $370 million to $400 million.

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