Fabrinet Q1 Profit Increases, Beats Estimates

(RTTNews) - Fabrinet (FN) revealed a profit for its first quarter that Increased from last year and beat the Street estimates.

The company's earnings came in at $95.93 million, or $2.66 per share. This compares with $77.39 million, or $2.13 per share, last year.

Excluding items, Fabrinet reported adjusted earnings of $105.33 million or $2.92 per share for the period.

Analysts on average had expected the company to earn $2.82 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 21.6% to $978.13 million from $804.23 million last year.

Fabrinet earnings at a glance (GAAP) :

-Earnings: $95.93 Mln. vs. $77.39 Mln. last year. -EPS: $2.66 vs. $2.13 last year. -Revenue: $978.13 Mln vs. $804.23 Mln last year.

-Guidance: Next quarter EPS guidance: $3.15 - $3.30 Next quarter revenue guidance: $1.05 - $1.10 Bln