Fabrinet Posts Higher Q4 Profit

reported better-than-expected results for its fiscal fourth quarter on Monday. Fabrinet posted a quarterly profit of $13 million, or $0.36 per share, compared to $10.3 million, or $0.29 per share, in the year-ago quarter. Excluding one-time items, the company's earnings rose to $0.40 per share from $0.34 per share. Its revenue climbed 29 percent year-over-year to $206.5 million from $160.1 million. However, analysts were expecting a profit of $0.39 per share on revenue of $197.7 million. The average estimate among 6 Estimize users was for earnings of $0.39 per share and revenue of $198.02 million. Tom Mitchell, Chief Executive Officer of Fabrinet, said, "We ended fiscal 2015 on a strong note with record revenue and growth across all our market segments. As we start fiscal 2016, I am confident that our initiatives to expand our new product introduction and advanced packaging capabilities, combined with our focus on total customer satisfaction and world-class quality will enable us to deliver another year of profitable growth in fiscal 2016." For the current quarter, Fabrinet projects earnings of $0.41 to $0.43 per share, on revenue of $206 million to $210 million. Analysts expected earnings of $0.42 per share on revenue of $203.5 million. Fabrinet shares finished down 0.42 percent at $18.87 during regular trading hours.