BANGKOK – Fabrinet posted fiscal first quarter revenue of $543.3 million, growth of 24.4% year-over-year.

For the quarter ended Sept. 24, GAAP net income was $44.7 million, up 35% compared to the same period last year.

"We had a strong start to fiscal 2022, with revenue and profitability that exceeded our guidance,” said Seamus Grady, CEO, Fabrinet. “By working in close partnership with our customers and suppliers, our supply chain team was effective at reducing the impact of component shortages on our business, particularly in the optical communications market. We are optimistic about continued strong demand across our business and are anticipating healthy sequential growth despite ongoing supply chain headwinds."

Cash and cash equivalents as of Sept. 24 were $269.9 million, compared to $303 million as of June 25.

Fabrinet expects fiscal second quarter revenue in the range of $540 million to $560 million.

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