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Jun 30, 2023
Fabrinet Q4 2023 Earnings Report
Fabrinet's Q4 2023 revenue and EPS exceeded guidance, driven by strong datacom growth.
Key Takeaways
Fabrinet reported strong Q4 2023 results, exceeding revenue and EPS guidance. The company saw significant growth in datacom revenue due to new AI products, which offset headwinds from customer inventory adjustments. Fiscal year 2023 was a record year for revenue, profitability, and cash flow.
Revenue for Q4 2023 was $655.9 million, compared to $587.9 million for Q4 2022.
GAAP net income for Q4 2023 was $60.8 million, compared to $56.2 million for Q4 2022.
Non-GAAP net income for Q4 2023 was $68.4 million, compared to $62.6 million for Q4 2022.
The Board of Directors approved the repurchase of up to an additional $47.6 million of Fabrinet’s ordinary shares.
Fabrinet
Fabrinet
Forward Guidance
Fabrinet expects first quarter revenue to be in the range of $650 million to $670 million. GAAP net income per diluted share is expected to be in the range of $1.60 to $1.67, and non-GAAP net income per diluted share is expected to be in the range of $1.83 to $1.90.
Positive Outlook
- Revenue to be in the range of $650 million to $670 million.
- GAAP net income per diluted share is expected to be in the range of $1.60 to $1.67.
- Based on approximately 36.5 million fully diluted shares outstanding.
- Non-GAAP net income per diluted share is expected to be in the range of $1.83 to $1.90.
- Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items.