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Fabrinet Announces Third Quarter Fiscal Year 2025 Financial Results

• Record Third Quarter Revenue Exceeds Guidance Range

BANGKOK, May 05, 2025 (GLOBE NEWSWIRE) -- Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced its financial results for its third fiscal quarter ended March听28, 2025.

Seamus Grady, Chief Executive Officer of Fabrinet, said, 鈥淲e had a very strong third quarter with revenue of $872 million dollars, which was above our guidance range. We delivered another strong telecom performance with growth that more than offset an anticipated sequential decline in datacom revenue. Our team continued to execute very well, producing non-GAAP EPS that also exceeded our guidance. Looking ahead, we remain optimistic and confident in our ability to deliver strong execution in the fourth quarter and into fiscal 2026.鈥�

Third Quarter Fiscal Year 2025 Financial Highlights

GAAP Results

• Revenue for the third quarter of fiscal year 2025 was $871.8 million, compared to $731.5 million for the third quarter of fiscal year 2024.
• GAAP net income for the third quarter of fiscal year 2025 was $81.3 million, compared to $80.9 million for the third quarter of fiscal year 2024.
• GAAP net income per diluted share for the third quarter of fiscal year 2025 was $2.25, compared to $2.21 for the third quarter of fiscal year 2024.
  

Non-GAAP Results

• Non-GAAP net income for the third quarter of fiscal year 2025 was $91.2 million, compared to $87.7 million for the third quarter of fiscal year 2024.
• Non-GAAP net income per diluted share for the third quarter of fiscal year 2025 was $2.52, compared to $2.39 for the third quarter of fiscal year 2024.

Business Outlook

Based on information available as of May听5, 2025, Fabrinet is issuing guidance for its fourth fiscal quarter ending June 27, 2025, as follows:

• Fabrinet expects fourth quarter revenue to be in the range of $860听尘颈濒濒颈辞苍 to $900听尘颈濒濒颈辞苍.
• GAAP net income per diluted share is expected to be in the range of $2.32 to $2.47, based on approximately 36.3听million fully diluted shares outstanding.
• Non-GAAP net income per diluted share is expected to be in the range of $2.55 to $2.70, based on approximately 36.3听million fully diluted shares outstanding.听
  

Guidance for non-GAAP net income per diluted share excludes share-based compensation expenses and certain non-recurring items. A reconciliation of non-GAAP net income per diluted share to the corresponding GAAP measure is available at the end of this press release.

Conference Call Information

A recorded version of this webcast will be available approximately two hours after the call and accessible at . The webcast will be archived on Fabrinet鈥檚 website for a period of one year.

About Fabrinet

Fabrinet is a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products, such as optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers and sensors. Fabrinet offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly and testing. Fabrinet focuses on production of high complexity products in any mix and any volume. Fabrinet maintains engineering and manufacturing resources and facilities in Thailand, the United States of America, the People鈥檚 Republic of China, and Israel. For more information visit: .

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include: (1) our optimism and confidence in our ability to deliver strong execution in the fourth quarter and into fiscal 2026; and (2) all of the statements under the 鈥淏usiness Outlook鈥� section regarding our expected revenue, GAAP and non-GAAP net income per share, and fully diluted shares outstanding for the fourth quarter of fiscal year 2025. These forward-looking statements involve risks and uncertainties, and actual results could vary materially from these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: changes in general economic conditions, either globally or in our markets, and the risk of recession or an economic downturn; continued disruption to our supply chain, which could increase our costs and affect our ability to procure parts and materials; less customer demand for our products and services than forecasted; less growth in the optical communications, automotive, industrial lasers and sensors markets than we forecast; difficulties expanding into additional markets, such as the semiconductor processing, biotechnology, metrology and materials processing markets; increased competition in the optical manufacturing services markets; difficulties in delivering products and services that compete effectively from a price and performance perspective; our reliance on a small number of customers and suppliers; difficulties in managing our operating costs; difficulties in managing and operating our business across multiple countries (including Thailand, the People鈥檚 Republic of China, Israel and the U.S.); and other important factors as described in reports and documents we file from time to time with the Securities and Exchange Commission (SEC), including the factors described under the section captioned 鈥淩isk Factors鈥� in our Quarterly Report on Form 10-Q filed with the SEC on February 4, 2025. We disclaim any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

In addition to reporting financial results in accordance with GAAP, we provide investors with certain non-GAAP financial measures. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. We believe these non-GAAP financial measures provide investors with useful supplemental information to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors鈥� operating results, and (3) allow greater transparency with respect to information used by management in making financial and operational decisions. In addition, we use some of these non-GAAP financial measures to measure company performance for the purposes of determining employee incentive plan compensation.

Non-GAAP gross profit, non-GAAP operating profit, non-GAAP net income and non-GAAP net income per diluted share exclude: share-based compensation expenses; severance payment and others; restructuring and other related costs; legal and litigation; and amortization of deferred debt issuance costs. We have excluded these items in order to enhance investors鈥� understanding of our underlying operations.

Non-GAAP free cash flow is net cash provided by (used in) operating activities, minus capital expenditures (purchase of property, plant and equipment). We use free cash flow to measure our ability to generate additional cash from our business operations.

There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. We urge you to review the reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures, and not to rely on any single financial measure to evaluate our business.

Investor Contact:
Garo Toomajanian