Fabrinet (NYSE: FN) has announced its fourth-quarter fiscal 2022 earnings report. Positive dynamics resulted in a 14.93% increase in FN prices to $115.75 at the trading on August 16. The market capitalization was $4.15 billion at the time.
FN reported $587.9 million in sales and $56.2 million in GAAP net income for the quarter ended June 24, compared to $509.6 million and $42.4 million the previous year. Revenue was $2.26 billion for the whole year, and net income per diluted share was $5.36, up from $3.95 in 2021.
Fabrinet (FN) estimates sales of $620-640 million and GAAP earnings of $1.51-1.58 per share in the first quarter of the current fiscal year.
Fabrinet’s financial results exceeded Wall Street’s forecasts. At the same time, FN management anticipates strong growth in the next year and, in light of this, has increased its share repurchase program to $100 million.
Fabrinet specializes in the manufacture of optical and electro-optical modules, complicated electronic printed circuit boards, and components for a wide range of industrial applications.
Fabrinet (FN) products are utilized in a variety of sectors, including automotive, aerospace, medical equipment, lasers, robotics, and others. Manufacturing is located in Southeast Asia, and the firm has connections with key OEMs.
Fabrinet’s benefit for long-term investors is that the firm is focused on long-term client collaboration and frequently offers maintenance and upgrades throughout the life cycle of pricey equipment.
Fabrinet (FN) is another vertically integrated producer that relies less on supply chain concerns. Fabrinet products are certified in accordance with several European and American market standards.
FN stock gained 16.89% in the previous week and 32.23% in the previous month. During the previous quarter, this company’s stock increased by 26.62%. The stock has gained 11.73% in the previous six months and 18.19% year to date. At the time of writing, the year-to-date (YTD) price performance of this stock was -3.76%.
