BANGKOK – Fabrinet reported fiscal first quarter revenue of $399.3 million, up 5.9% year-over-year.
GAAP net income for the quarter ended Sept. 27 was $25.9 million, down 7.2% compared to the same period in 2018.
“We had a strong start to the year with fiscal first quarter revenue and earnings that exceeded our guidance ranges,” said CEO Seamus Grady. “We have made significant progress establishing a new product introduction facility in Israel that we expect to be operational in the first part of calendar 2020. We believe Fabrinet Israel can mirror the success we have seen at Fabrinet West in California by attracting new customers and deepening relationships with existing customers. This development, along with our ongoing business success, reinforces our confidence as we look ahead.”
Fabrinet expects fiscal second quarter revenue in the range of $408 million to $416 million.