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Sep 24, 2021
Fabrinet Q1 2022 Earnings Report
Fabrinet had a strong start to fiscal year 2022 with revenue and profitability that exceeded its guidance.
Key Takeaways
Fabrinet announced its financial results for the first fiscal quarter ended September 24, 2021. The company reported a record first quarter revenue of $543.3 million, exceeding guidance. GAAP net income was $44.7 million, or $1.20 per diluted share, while non-GAAP net income was $54.2 million, or $1.45 per diluted share.
Revenue for the first quarter of fiscal year 2022 was $543.3 million, compared to $436.6 million in the first quarter of fiscal year 2021.
GAAP net income for the first quarter of fiscal year 2022 was $44.7 million, compared to GAAP net income of $33.1 million for the first quarter of fiscal year 2021.
GAAP net income per diluted share for the first quarter of fiscal year 2022 was $1.20, compared to GAAP net income per diluted share of $0.88 for the first quarter of fiscal year 2021.
Non-GAAP net income per diluted share for the first quarter of fiscal year 2022 was $1.45, compared to non-GAAP net income per diluted share of $1.05 for the first quarter of fiscal year 2021.
Forward Guidance
Fabrinet is issuing guidance for its second fiscal quarter ending December 24, 2021. Fabrinet expects second quarter revenue to be in the range of $540 million to $560 million. GAAP net income per diluted share is expected to be in the range of $1.24 to $1.31, based on approximately 37.6 million fully diluted shares outstanding. Non-GAAP net income per diluted share is expected to be in the range of $1.42 to $1.49, based on approximately 37.6 million fully diluted shares outstanding.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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