BANGKOK – Fabrinet reported fiscal second quarter revenue was $426.2 million, up 5.7% year-over-year.

GAAP net income for the quarter ended Dec. 27 was $31.2 million, nearly flat with the same period the prior year. GAAP net income included a foreign exchange loss of $1 million.

“Our second quarter revenue and earnings exceeded our guidance ranges,” said CEO Seamus Grady. “Sequential growth across nearly all our markets resulted in record quarterly revenue performance. We expect to see continued year-over-year growth in the third quarter, even after considering the impact of the coronavirus outbreak in our guidance. From a longer-term perspective, our ongoing market momentum makes us very optimistic about our ability to continue to drive profitable growth and reinforce our leadership position in the market.”

Fabrinet named Csaba Sverha to succeed Toh-Seng Ng as CFO, effective Feb. 17.

Fabrinet expects fiscal third quarter revenue in the range of $410 million to $418 million.

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