Fabrinet's Recovery Continues with Solid Q3 PDF Print E-mail
Written by Mike Buetow   
Monday, 05 November 2012 21:22

BANGKOK -- Top 30 electronics manufacturing services provider Fabrinet reported fiscal first-quarter 2013 net income rose 1.9% year-over-year to $16 million.

For the period ended Sept. 28, revenue fell 14.9% from last year to $158.6 million. Non-GAAP net income fell 22.9% to $12.8 million.

Last year, the EMS companies plants in Thailand were beset by one of the largest floods in the past 50 years. Two were taken offline and one was completely destroyed. The watery surge upset the company's longstanding streak of revenue growth and profitability.

Fabrinet chief executive Tom Mitchell said, “Fiscal 2013 is off to a solid start and I am pleased with the results that we delivered in our first quarter. We are excited about the new business opportunities in front of us and we remain committed to delivering consistent value to all of our customers.”

Fabrinet guided for fiscal second-quarter revenue of $159 million to $163 million.

 

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