Fabrinet Q4 2020 Earnings Report
Key Takeaways
Fabrinet announced its Q4 and Fiscal Year 2020 results, exceeding revenue and earnings guidance for the quarter. The company reported Q4 revenue of $405.1 million and GAAP net income of $28.0 million ($0.75 per diluted share). Fabrinet also achieved record fiscal year revenue of $1.64 billion and record operating cash flow of $151 million.
Q4 revenue of $405.1 million was consistent with the comparable period in fiscal year 2019 and exceeded guidance.
GAAP net income for Q4 was $28.0 million, compared to $33.0 million for the same period last year.
Non-GAAP net income for Q4 was $36.0 million, compared to $37.6 million for the same period last year.
The company expanded its share repurchase program, resulting in $100 million available for repurchase.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects first quarter revenue to be in the range of $410 million to $430 million. GAAP net income per diluted share is expected to be in the range of $0.77 to $0.84, and non-GAAP net income per diluted share is expected to be in the range of $0.93 to $1.00.
Positive Outlook
- Expects first quarter revenue to be in the range of $410 million to $430 million.
- GAAP net income per diluted share is expected to be in the range of $0.77 to $0.84.
- Based on approximately 37.7 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $0.93 to $1.00.
- Growth in the first quarter.