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Fabrinet Outperforms Expectations, Issues Strong Q1 2017 Guidance

Shares of Fabrinet FN 4.21% are flat after hours following a strong Q4 earnings report. EPS for the quarter were inline with expectations at $0.60. Sales were $276.4 million versus estimates for $262.95 million.

For Q1, the company expects EPS of $0.70 to $0.72 versus estimates of $0.60. Sales are being guided for a range of $306 million to $310 million versus estimates for $269.51 million.

CEO David Mitchell said:

"We believe that we are in a strong position to serve the industry's growth as we scale our Fabrinet West New Product Introduction facility and complete construction of the first building at our new campus in Thailand. As a result of these factors, we are entering fiscal 2017 with optimism, as reflected in our guidance for the first quarter."

Shares of Fabrinet closed Monday's session up $1.71 or 4.21 percent to $42.30.

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