Fabrinet Q4 2021 Earnings Report
Key Takeaways
Fabrinet announced strong Q4 2021 results with revenue of $509.6 million, exceeding guidance. GAAP net income was $42.4 million, or $1.13 per diluted share, while non-GAAP net income was $49.4 million, or $1.31 per diluted share. The company also reported record fiscal year 2021 revenue of $1.88 billion.
Q4 revenue exceeded guidance at $509.6 million.
GAAP net income for Q4 was $42.4 million, or $1.13 per diluted share.
Non-GAAP net income for Q4 was $49.4 million, or $1.31 per diluted share.
Record fiscal year 2021 revenue reached $1.88 billion.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects first quarter revenue to be in the range of $510 million to $530 million. GAAP net income per diluted share is expected to be in the range of $1.08 to $1.15, and non-GAAP net income per diluted share is expected to be in the range of $1.29 to $1.36.
Positive Outlook
- First quarter revenue to be in the range of $510 million to $530 million.
- GAAP net income per diluted share is expected to be in the range of $1.08 to $1.15.
- Based on approximately 37.5 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.29 to $1.36.
- Company remains optimistic about demand trends and confident in their ability to execute.
Challenges Ahead
- Effects of the COVID-19 pandemic on business.
- Less customer demand for products and services than forecasted.
- Less growth in the optical communications, industrial lasers and sensors markets than forecasted.
- Difficulties expanding into additional markets.
- Increased competition in the optical manufacturing services markets.