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Sep 29, 2023
Fabrinet Q1 2024 Earnings Report
Fabrinet's first quarter of fiscal year 2024 witnessed record revenue and net income per share, exceeding guidance ranges.
Key Takeaways
Fabrinet reported a strong start to fiscal year 2024, with record revenue of $685.5 million and GAAP net income per share of $1.78, both exceeding guidance. The company's performance was driven by quickly ramping new programs, offsetting industry-wide inventory adjustments.
Revenue for Q1 2024 was $685.5 million, compared to $655.4 million in Q1 2023.
GAAP net income for Q1 2024 was $65.1 million, compared to $64.6 million in Q1 2023.
GAAP net income per diluted share for Q1 2024 was $1.78, compared to $1.76 in Q1 2023.
Non-GAAP net income per diluted share for Q1 2024 was $2.00, compared to $1.97 for the first quarter of fiscal year 2023.
Forward Guidance
Fabrinet expects revenue to be in the range of $680 million to $700 million. GAAP net income per diluted share is expected to be in the range of $1.78 to $1.85, and non-GAAP net income per diluted share is expected to be in the range of $1.98 to $2.05 for the second quarter ending December 29, 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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