[February 06, 2017] |
|
Fabrinet Announces Second Quarter Fiscal-Year 2017 Financial Results
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 the second fiscal quarter ended
December 30, 2016.
Tom Mitchell, Chief Executive Officer of Fabrinet, said: "We exceeded
our guidance for the second quarter, with revenue that grew 51% from a
year ago. We are enthusiastic about our continued business momentum,
driven by on-going strength in the optical market and new customer
programs. We're also excited to see the beginning of the transfer of
programs from our new product introduction facility in Santa Clara to
Thailand, and believe our growing NPI pipeline will support our growth
in the years ahead."
Mr. Mitchell added, "On a personal note, at my request, our board of
directors has initiated a CEO succession plan. We have retained an
executive search firm to assist in identifying and evaluating
candidates. We have no set timeline for this process. I intend to
continue to play a leadership role in the Company after we appoint a new
CEO."
Second Quarter Fiscal-Year 2017 Financial Highlights
GAAP Results
-
Revenue for the second quarter of fiscal year 2017 was $351.2 million,
an increase of 51% compared to revenue of $233.0 million for the
comparable period in fiscal year 2016.
-
GAAP net income for the second quarter of fiscal year 2017 was $25.3
million, compared to GAAP net income of $19.8 million in the second
quarter of fiscal year 2016.
-
GAAP net income per diluted share for the second quarter of fiscal
year 2017 was $0.67, compared to GAAP net income per diluted share of
$0.54 in the second quarter of fiscal year 2016.
Non-GAAP Results
-
Non-GAAP net income in the second quarter of fiscal 2017 was $34.5
million, an increase of 89% compared to non-GAAP net income of $18.2
million in the same period a year ago.
-
Non-GAAP net income per diluted share in the second quarter of fiscal
2017 was $0.91, an increase from non-GAAP net income per diluted share
of $0.50 in the same period a year ago.
Business Outlook
Based on information available as of February 6, 2017, Fabrinet is
issuing guidance for the third quarter of fiscal-year 2017 ending March
31, 2017, as follows:
-
Fabrinet expects revenue for the third quarter to be in the range of
$360 million to $364 million.
-
GAAP net income per diluted share is expected to be in the range of
$0.66 to $0.68, based on approximately 38.0 million fully diluted
shares outstanding.
-
Non-GAAP net income per diluted share is expected to be in the range
of $0.87 to $0.89, based on approximately 38.0 million fully diluted
shares outstanding.
|
Conference Call Information
|
|
|
|
|
What:
|
|
|
Fabrinet Second Quarter Fiscal-Year 2017 Financial Results
Conference Call
|
When:
|
|
|
Monday, February 6, 2017
|
Time:
|
|
|
5:00 p.m. ET
|
Live Call:
|
|
|
(888) 357-3694, domestic
|
|
|
|
(253) 237-1137, international
|
|
|
|
Passcode: 52651124
|
|
|
|
|
Replay:
|
|
|
(855) 859-2056, domestic
|
|
|
|
(404) 537-3406, international
|
|
|
|
Passcode: 52651124
|
Webcast:
|
|
|
http://investor.fabrinet.com
(live and replay)
|
|
|
|
|
This press release and any other information related to the call also
will be posted on Fabrinet's website at http://investor.fabrinet.com.
A recorded version of this webcast will be available approximately two
hours after the call and will be archived on Fabrinet's 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, 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 test. 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's Republic of China and the United Kingdom. For more
information visit: www.fabrinet.com.
Forward-Looking Statements
"Safe Harbor" Statement Under U.S. Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements include our expectation that we will continue to achieve
profitable growth and scale our business, as well as all of the
statements under the "Business Outlook" section regarding our expected
revenue and GAAP and non-GAAP net income per share for the third quarter
of fiscal-year 2017. 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: less customer demand for our
products and services than forecasted; less growth in the optical
communications, 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's
Republic of China, the U.S. and the U.K.); 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 "Risk Factors" in our Quarterly
Report on Form 10-Q, filed on November 9, 2016. We disclaim any
obligation to update information contained in these forward-looking
statements whether as a result of new information, future events, or
otherwise.
Use of Non-GAAP Financials
The Company refers to the non-GAAP financial measures cited above in
making operating decisions because they provide meaningful supplemental
information regarding the Company's ongoing operational performance.
Non-GAAP net income excludes share-based compensation expenses,
executive separation costs, income or expense related to flooding,
amortization of debt issuance costs, unrealized gain or loss on foreign
currency, business combination expenses, and amortization of intangible
assets. We have excluded these items in order to enhance investors'
understanding of our underlying operations. The use of these non-GAAP
financial measures has material limitations because they should not be
used to evaluate our company without reference to their corresponding
GAAP financial measures. As such, we compensate for these material
limitations by using these non-GAAP financial measures in conjunction
with GAAP financial measures.
These non-GAAP financial measures are used to: (1) measure company
performance against historical results, (2) facilitate comparisons to
our competitors' operating results, and (3) allow greater transparency
with respect to information used by management in financial and
operational decision making. In addition, these non-GAAP financial
measures are used to measure company performance for the purposes of
determining employee incentive plan compensation.
|
FABRINET UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS
|
|
|
|
|
|
|
(in thousands of U.S. dollars, except share data)
|
|
|
December 30, 2016
|
|
June 24, 2016
|
Assets
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
85,619
|
|
|
$
|
142,804
|
Marketable securities
|
|
|
|
170,508
|
|
|
|
141,709
|
Trade accounts receivable, net
|
|
|
|
240,887
|
|
|
|
196,145
|
Inventory, net
|
|
|
|
214,375
|
|
|
|
181,499
|
Deferred tax assets
|
|
|
|
-
|
|
|
|
1,358
|
Prepaid expenses
|
|
|
|
2,407
|
|
|
|
3,114
|
Other current assets
|
|
|
|
4,604
|
|
|
|
6,662
|
Total current assets
|
|
|
|
718,400
|
|
|
|
673,291
|
Non-current assets
|
|
|
|
|
|
Restricted cash in connection with business acquisition
|
|
|
|
3,126
|
|
|
|
-
|
Property, plant and equipment, net
|
|
|
|
213,987
|
|
|
|
178,410
|
Intangibles, net
|
|
|
|
5,048
|
|
|
|
499
|
Goodwill
|
|
|
|
2,529
|
|
|
|
-
|
Deferred tax assets
|
|
|
|
1,879
|
|
|
|
1,806
|
Deferred debt issuance costs on revolving loan and other non-current
assets
|
|
|
|
950
|
|
|
|
1,851
|
Total non-current assets
|
|
|
|
227,519
|
|
|
|
182,566
|
Total Assets
|
|
|
$
|
945,919
|
|
|
$
|
855,857
|
Liabilities and Shareholders' Equity
|
|
|
|
|
|
Current liabilities
|
|
|
|
|
|
Bank borrowings, net of unamortized debt issuance costs
|
|
|
$
|
38,287
|
|
|
$
|
24,307
|
Trade accounts payable
|
|
|
|
187,306
|
|
|
|
172,052
|
Fixed assets payable
|
|
|
|
17,094
|
|
|
|
20,628
|
Capital lease liability, current portion
|
|
|
|
362
|
|
|
|
-
|
Income tax payable
|
|
|
|
2,491
|
|
|
|
2,010
|
Accrued payroll, bonus and related expenses
|
|
|
|
11,365
|
|
|
|
12,300
|
Accrued expenses
|
|
|
|
13,712
|
|
|
|
8,072
|
Other payables
|
|
|
|
12,440
|
|
|
|
16,356
|
Total current liabilities
|
|
|
|
283,057
|
|
|
|
255,725
|
Non-current liabilities
|
|
|
|
|
|
Long-term loan from bank, non-current portion, net of unamortized
debt issuance costs
|
|
|
|
29,412
|
|
|
|
36,100
|
Deferred tax liability
|
|
|
|
-
|
|
|
|
854
|
Capital lease liability, non-current portion
|
|
|
|
1,108
|
|
|
|
-
|
Deferred liability in connection with business acquisition
|
|
|
|
3,126
|
|
|
|
-
|
Severance liabilities
|
|
|
|
7,277
|
|
|
|
6,684
|
Other non-current liabilities
|
|
|
|
2,274
|
|
|
|
2,075
|
Total non-current liabilities
|
|
|
|
43,197
|
|
|
|
45,713
|
Total Liabilities
|
|
|
|
326,254
|
|
|
|
301,438
|
Commitments and contingencies (Note 16)
|
|
|
|
|
|
Shareholders' equity
|
|
|
|
|
|
Preferred shares (5,000,000 shares authorized, $0.01 par value; no
shares issued and
|
|
|
|
|
|
outstanding as of December 30, 2016 and June 24, 2016)
|
|
|
|
-
|
|
|
|
-
|
Ordinary shares (500,000,000 shares authorized, $0.01 par value;
36,918,462 shares and
|
|
|
|
|
|
36,156,446 shares issued and outstanding as of December 30, 2016 and
June 24, 2016, respectively)
|
|
|
|
369
|
|
|
|
362
|
Additional paid-in capital
|
|
|
|
121,366
|
|
|
|
102,325
|
Accumulated other comprehensive (loss) income
|
|
|
|
(1,269
|
)
|
|
|
591
|
Retained earnings
|
|
|
|
499,199
|
|
|
|
451,141
|
Total Shareholders' Equity
|
|
|
|
619,665
|
|
|
|
554,419
|
Total Liabilities and Shareholders' Equity
|
|
|
$
|
945,919
|
|
|
$
|
855,857
|
|
|
FABRINET UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
(in thousands of U.S. dollars, except per share amounts)
|
|
|
December 30, 2016
|
|
December 25, 2015
|
|
December 30, 2016
|
|
December 25, 2015
|
Revenues
|
|
|
$
|
351,156
|
|
|
$233,038
|
|
|
$683,199
|
|
|
$
|
449,471
|
|
Cost of revenues
|
|
|
|
(308,110
|
)
|
|
(204,545
|
)
|
|
(600,545
|
)
|
|
|
(394,967
|
)
|
Gross profit
|
|
|
|
43,046
|
|
|
28,493
|
|
|
82,654
|
|
|
|
54,504
|
|
Selling, general and administrative expenses
|
|
|
|
(17,651
|
)
|
|
(13,715
|
)
|
|
(33,483
|
)
|
|
|
(25,615
|
)
|
Other expense related to flooding
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
(864
|
)
|
Operating income
|
|
|
|
25,395
|
|
|
14,778
|
|
|
49,171
|
|
|
|
28,025
|
|
Interest income
|
|
|
|
320
|
|
|
455
|
|
|
757
|
|
|
|
897
|
|
Interest expense
|
|
|
|
(555
|
)
|
|
(419
|
)
|
|
(1,876
|
)
|
|
|
(821
|
)
|
Foreign exchange gain (loss), net
|
|
|
|
1,945
|
|
|
6,166
|
|
|
3,602
|
|
|
|
(4,326
|
)
|
Other income
|
|
|
|
147
|
|
|
106
|
|
|
289
|
|
|
|
209
|
|
Income before income taxes
|
|
|
|
27,252
|
|
|
21,086
|
|
|
51,943
|
|
|
|
23,984
|
|
Income tax expense
|
|
|
|
(1,960
|
)
|
|
(1,283
|
)
|
|
(3,885
|
)
|
|
|
(2,578
|
)
|
Net income
|
|
|
|
25,292
|
|
|
19,803
|
|
|
48,058
|
|
|
|
21,406
|
|
Other comprehensive loss, net of tax:
|
|
|
|
|
|
|
|
|
|
Change in net unrealized loss on marketable securities
|
|
|
|
(353
|
)
|
|
(310
|
)
|
|
(540
|
)
|
|
|
(223
|
)
|
Change in net unrealized loss on derivative instruments
|
|
|
|
-
|
|
|
-
|
|
|
(158
|
)
|
|
|
-
|
|
Change in foreign currency translation adjustment
|
|
|
|
(1,903
|
)
|
|
-
|
|
|
(1,162
|
)
|
|
|
-
|
|
Total other comprehensive loss, net of tax
|
|
|
|
(2,256
|
)
|
|
(310
|
)
|
|
(1,860
|
)
|
|
|
(223
|
)
|
Net comprehensive income
|
|
|
$
|
23,036
|
|
|
$19,493
|
|
|
$46,198
|
|
|
$
|
21,183
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
$
|
0.69
|
|
|
$0.55
|
|
|
$1.31
|
|
|
$
|
0.60
|
|
Diluted
|
|
|
$
|
0.67
|
|
|
$0.54
|
|
|
$1.28
|
|
|
$
|
0.59
|
|
|
|
|
|
|
|
|
Weighted-average number of ordinary shares outstanding
(thousands of shares)
|
|
|
|
|
|
|
Basic
|
|
|
|
36,848
|
|
|
35,812
|
|
|
36,626
|
|
|
|
35,695
|
|
Diluted
|
|
|
|
37,805
|
|
|
36,826
|
|
|
37,567
|
|
|
|
36,570
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FABRINET UNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended
|
(in thousands of U.S. dollars)
|
|
|
December 30, 2016
|
|
December 25, 2015
|
|
|
|
|
|
|
Cash flows from operating activities
|
|
|
|
|
|
Net income for the period
|
|
|
$48,058
|
|
|
$
|
21,406
|
|
Adjustments to reconcile net income to net cash provided by
operating activities
|
|
|
|
|
|
Depreciation and amortization
|
|
|
10,758
|
|
|
|
8,294
|
|
Loss (gain) on disposal of property, plant and equipment
|
|
|
19
|
|
|
|
(49
|
)
|
Loss from sales and maturities of available-for-sale securities
|
|
|
15
|
|
|
|
124
|
|
Amortization of investment premium
|
|
|
228
|
|
|
|
457
|
|
Amortization of deferred debt issuance costs
|
|
|
1,072
|
|
|
|
358
|
|
Reversal of allowance for doubtful accounts
|
|
|
(40
|
)
|
|
|
(7
|
)
|
Unrealized (gain) loss on exchange rate and fair value of derivative
instruments
|
|
|
(3,033
|
)
|
|
|
5,566
|
|
Share-based compensation
|
|
|
14,208
|
|
|
|
5,783
|
|
Deferred income tax
|
|
|
938
|
|
|
|
413
|
|
Other non-cash expenses
|
|
|
586
|
|
|
|
765
|
|
Reversal of inventory obsolescence
|
|
|
(100
|
)
|
|
|
(478
|
)
|
Loss from written-off inventory due to flood loss
|
|
|
-
|
|
|
|
233
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
Trade accounts receivable
|
|
|
(40,779
|
)
|
|
|
(12,486
|
)
|
Inventory
|
|
|
(29,286
|
)
|
|
|
(10,004
|
)
|
Other current assets and non-current assets
|
|
|
4,747
|
|
|
|
1,019
|
|
Trade accounts payable
|
|
|
11,026
|
|
|
|
(405
|
)
|
Income tax payable
|
|
|
448
|
|
|
|
320
|
|
Other current liabilities and non-current liabilities
|
|
|
887
|
|
|
|
2,395
|
|
Net cash provided by operating activities
|
|
|
19,752
|
|
|
|
23,704
|
|
Cash flows from investing activities
|
|
|
|
|
|
Purchase of marketable securities
|
|
|
(83,405
|
)
|
|
|
(53,258
|
)
|
Proceeds from sales of marketable securities
|
|
|
15,682
|
|
|
|
25,709
|
|
Proceeds from maturities of marketable securities
|
|
|
38,142
|
|
|
|
34,460
|
|
Payments in connection with business acquisition, net of cash
acquired
|
|
|
(9,917
|
)
|
|
|
-
|
|
Purchase of property, plant and equipment
|
|
|
(44,412
|
)
|
|
|
(26,407
|
)
|
Purchase of intangibles
|
|
|
(319
|
)
|
|
|
(210
|
)
|
Proceeds from disposal of property, plant and equipment
|
|
|
127
|
|
|
|
58
|
|
Net cash used in investing activities
|
|
|
(84,102
|
)
|
|
|
(19,648
|
)
|
Cash flows from financing activities
|
|
|
|
|
|
Payment of debt issuance costs
|
|
|
-
|
|
|
|
(359
|
)
|
Proceeds of short-term loans from banks
|
|
|
15,744
|
|
|
|
18,000
|
|
Repayment of long-term loans from bank
|
|
|
(9,800
|
)
|
|
|
(3,000
|
)
|
Repayment of capital lease liability
|
|
|
(92
|
)
|
|
|
-
|
|
Proceeds from issuance of ordinary shares under employee share
option plans
|
|
|
5,848
|
|
|
|
2,025
|
|
Withholding tax related to net share settlement of restricted share
units
|
|
|
(1,008
|
)
|
|
|
(1,711
|
)
|
Net cash provided by financing activities
|
|
|
10,692
|
|
|
|
14,955
|
|
Net (decrease) increase in cash, cash equivalents and restricted
cash
|
|
|
(53,658
|
)
|
|
|
19,011
|
|
|
|
|
|
|
|
Movement in cash, cash equivalents and restricted cash
|
|
|
|
|
|
Cash, cash equivalents and restricted cash at beginning of period
|
|
|
142,804
|
|
|
|
112,978
|
|
(Decrease) increase in cash, cash equivalents and restricted cash
|
|
|
(53,658
|
)
|
|
|
19,011
|
|
Effect of exchange rate on cash, cash equivalents and restricted cash
|
|
|
(401
|
)
|
|
|
(630
|
)
|
Cash, cash equivalents and restricted cash at end of period
|
|
|
$88,745
|
|
|
$
|
131,359
|
|
|
|
|
|
|
|
Non-cash investing and financing activities
|
|
|
|
|
|
Construction, software-related and equipment-related payables
|
|
|
$17,094
|
|
|
$
|
6,657
|
|
|
|
|
|
|
|
FABRINET Reconciliation of GAAP measures to
non-GAAP measures
|
|
|
|
|
|
|
(in thousands of U.S. dollars, except per share data)
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
|
December 30, 2016
|
|
December 25, 2015
|
|
December 30, 2016
|
|
December 25, 2015
|
|
|
|
Net income
|
|
Diluted EPS
|
|
Net income
|
|
Diluted EPS
|
|
Net income
|
|
Diluted EPS
|
|
Net income
|
|
Diluted EPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP measures
|
|
|
25,292
|
|
0.67
|
|
19,803
|
|
|
0.54
|
|
|
48,058
|
|
|
1.28
|
|
|
21,406
|
|
0.59
|
Items reconciling GAAP net income (loss) & EPS to non-GAAP net
income & EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related to cost of revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation expenses
|
|
|
1,514
|
|
0.04
|
|
540
|
|
|
0.01
|
|
|
2,528
|
|
|
0.07
|
|
|
1,077
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total related to gross profit
|
|
|
1,514
|
|
0.04
|
|
540
|
|
|
0.01
|
|
|
2,528
|
|
|
0.07
|
|
|
1,077
|
|
0.03
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related to selling, general and administrative expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation expenses
|
|
|
7,083
|
|
0.19
|
|
2,570
|
|
|
0.07
|
|
|
11,680
|
|
|
0.31
|
|
|
4,706
|
|
0.13
|
Executive separation cost
|
|
|
-
|
|
-
|
|
552
|
|
|
0.01
|
|
|
577
|
|
|
0.02
|
|
|
552
|
|
0.01
|
Amortization of intangible assets
|
|
|
229
|
|
0.01
|
|
-
|
|
|
-
|
|
|
229
|
|
|
0.01
|
|
|
-
|
|
-
|
Business combination expenses
|
|
|
99
|
|
0.00
|
|
-
|
|
|
-
|
|
|
1,510
|
|
|
0.04
|
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total related to selling, general and administrative expenses
|
|
|
7,411
|
|
0.20
|
|
3,122
|
|
|
0.08
|
|
|
13,996
|
|
|
0.37
|
|
|
5,258
|
|
0.14
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related to other incomes and other expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses/(income) related to flooding
|
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
864
|
|
0.02
|
Amortization of debt issuance costs
|
|
|
281
|
|
0.01
|
|
187
|
|
|
0.01
|
|
|
1,344
|
|
|
0.04
|
|
|
358
|
|
0.01
|
(Gain)/loss on foreign currency
|
|
|
-
|
|
-
|
|
(5,418
|
)
|
|
(0.15
|
)
|
|
(1,713
|
)
|
|
(0.05
|
)
|
|
5,479
|
|
0.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total related to other incomes and other expenses
|
|
|
281
|
|
0.01
|
|
(5,231
|
)
|
|
(0.14
|
)
|
|
(369
|
)
|
|
(0.01
|
)
|
|
6,701
|
|
0.18
|
Total related to net income & EPS
|
|
|
9,206
|
|
0.24
|
|
(1,569
|
)
|
|
(0.04
|
)
|
|
16,155
|
|
|
0.43
|
|
|
13,036
|
|
0.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP measures
|
|
|
34,498
|
|
0.91
|
|
18,234
|
|
|
0.50
|
|
|
64,213
|
|
|
1.71
|
|
|
34,442
|
|
0.94
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing diluted net income per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP diluted shares
|
|
|
|
|
37,805
|
|
|
|
36,826
|
|
|
|
|
37,567
|
|
|
|
|
36,570
|
Non-GAAP diluted shares
|
|
|
|
|
37,805
|
|
|
|
36,826
|
|
|
|
|
37,567
|
|
|
|
|
36,570
|
Fabrinet Guidance for Quarter Ending March 31, 2017 Items
reconciling GAAP EPS to non-GAAP EPS:
|
|
|
|
|
|
|
|
Diluted EPS
|
GAAP net income per diluted share:
|
|
|
$0.66 to $0.68
|
Related to cost of revenues:
|
|
|
|
Share-based compensation expenses
|
|
|
$0.04
|
|
|
|
|
Related to selling, general and administrative expenses:
|
|
|
|
Share-based compensation expenses
|
|
|
$0.15
|
Business combination expenses
|
|
|
$0.00
|
Amortization of intangible assets
|
|
|
$0.01
|
Share-based compensation expenses
|
|
|
$0.16
|
|
|
|
|
|
|
|
|
Related to other incomes and other expenses:
|
|
|
Amortization of debt issuance costs
|
|
|
$0.00
|
|
|
|
|
Total related to net income & EPS
|
|
|
$0.21
|
Non-GAAP net income per diluted share
|
|
|
$0.87 to $0.89
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20170206006092/en/
[ Back To TMCnet.com's Homepage ]
|