BANGKOK – Fabrinet reported fiscal first quarter 2018 GAAP revenue was $357.3 million, an increase of 8% year-over-year.
GAAP net income for the quarter ended Sept. 29 was $21 million, down 8% compared to the same period last year.
“Our first quarter revenue was within our guidance range,” said Tom Mitchell, executive chairman of Fabrinet. “Growth from datacom and non-optical communications products were healthy compared to a year ago, with new programs and advanced technologies, including silicon photonics and QSFP28 as notable contributors. However, tempered demand for telecom products resulted in a flat performance in that category compared to a year ago.
“We believe our strategy to drive our growth by attracting new customers and winning new programs from existing customers, while supporting increased production of existing programs, continues to be successful. We are optimistic that by continuing to execute on this strategy we can continue to drive profitable growth as we look ahead.”
Fabrinet expects revenue for the fiscal second quarter ending Dec. 29 to be in the range of $328 million to $332 million.