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Dec 30, 2022
Fabrinet Q2 2023 Earnings Report
Reported record second quarter revenue and operating margins due to strong execution.
Key Takeaways
Fabrinet announced strong second quarter results with revenue exceeding guidance and record operating margins, effectively managing a dynamic supply environment.
Second quarter revenue reached a record $668.7 million, surpassing previous guidance.
GAAP net income was $63.2 million, or $1.71 per diluted share.
Non-GAAP net income was $70.0 million, or $1.90 per diluted share.
The company is managing supply chain challenges effectively, with improvements in component availability for some products.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects revenue between $640 million and $660 million, GAAP net income per diluted share between $1.59 and $1.66, and non-GAAP net income per diluted share between $1.86 and $1.93 for the third quarter ending March 31, 2023.
Positive Outlook
- Revenue to be in the range of $640 million to $660 million.
- GAAP net income per diluted share is expected to be in the range of $1.59 to $1.66.
- Based on approximately 37.0 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.86 to $1.93.
- Excludes share-based compensation expenses and certain non-recurring items.