BANGKOK -- Fabrinet today announced first fiscal quarter revenue rose 9.3% over last year to $436.6 million, exceeding guidance and setting a new company record for the period.

GAAP net income was $33.1 million, versus $26 million last year.

Non-GAAP net income for period ended Sept. 25 was $39.3 million, compared to $32.2 million in fiscal 2020.

“We have a lot to be optimistic about, as numerous drivers contributed to our growth and outperformance in the first quarter. Our strategy is working as strength from newer programs offsets the softness we see in certain markets,” said Seamus Grady, chief executive, Fabrinet. “We believe that we can grow faster than the markets we serve by focusing on attracting new customers, winning new projects at existing customers, and pursuing new programs that leverage our advanced precision manufacturing capabilities.”

The EMS company guided for fiscal second quarter revenue of $420 million to $440 million.

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