Fabrinet Stock Price, News & Analysis

Cepton, a leader in lidar solutions, has partnered with Fabrinet for the production of its Vista-X90 lidar, which is set to support the industry’s largest ADAS lidar series production program. This collaboration leverages Fabrinet's expertise in advanced optical manufacturing, crucial for scaling up production. Cepton aims to make lidar an essential part of consumer vehicles while enhancing its manufacturing capabilities at Fabrinet’s certified facility in Thailand. The Vista-X90 incorporates patented MMT technology for efficient long-range imaging.

Fabrinet (NYSE: FN) reported robust third quarter results for fiscal year 2022, achieving revenues of $564.4 million, a significant rise from $479.3 million in the previous year. GAAP net income reached $50.7 million, up from $37.5 million, with GAAP net income per share increasing to $1.35. Non-GAAP results also showed strong performance, with non-GAAP net income at $56.2 million and non-GAAP EPS at $1.50. The company forecasts fourth quarter revenue between $570 million and $590 million, indicating continued growth momentum amid supply chain challenges.

Fabrinet (NYSE: FN) will release its third quarter 2022 financial results on May 2, 2022, after market close. A conference call and webcast will be held at 5:00 p.m. ET for management to discuss the results. Investors can access the live call at (888) 357-3694 domestically and (253) 237-1137 internationally, using conference ID 8682742. A replay of the call will be available shortly after the event. Fabrinet specializes in advanced optical packaging and precision manufacturing services across various sectors, including optical communications and medical devices.

Fabrinet (NYSE: FN) reported second quarter fiscal 2022 revenue of $566.6 million, exceeding guidance and up from $453.8 million year-over-year. GAAP net income reached $48.9 million ($1.30 per share), compared to $35.4 million ($0.94 per share) in the same period last year. Non-GAAP net income was $56.2 million ($1.50 per share), up from $41.5 million ($1.10 per share). For the third quarter, Fabrinet anticipates revenue between $560 million to $580 million, with GAAP EPS guidance of $1.30 to $1.37.

Fabrinet (NYSE: FN) has appointed Darlene Knight to its Board of Directors and as a member of the Audit Committee. Knight brings extensive experience in multinational manufacturing, notably in the automotive sector with Adient and Johnson Controls. Her leadership is expected to enhance Fabrinet's strategic direction. Knight aims to contribute to the company’s advancements, leveraging her background from roles at General Motors and other leading firms in the manufacturing industry.

Fabrinet (NYSE: FN) will release its second quarter 2022 financial results after market close on January 31, 2022. A conference call will be held at 5:00 p.m. ET to discuss the results. Fabrinet specializes in advanced optical packaging and electronic manufacturing services for original equipment manufacturers. The call can be accessed domestically at (888) 357-3694 or internationally at (253) 237-1137. A recorded version of the webcast will be available soon after the call and archived for one year on their website.

Hilbert Group AB has acquired a 2.7% stake in HAYVN, a digital assets investment bank, for $1 million during HAYVN's Series A funding round. This strategic partnership aims to enhance HAYVN's offerings, particularly in asset management, while Hilbert Group seeks to expand its presence in the digital asset market. HAYVN's founders have backgrounds in prominent investment banks, helping bolster its credibility in the regulated digital finance space. The investment aligns with Hilbert Group's vision to grow its assets under management.

Aeva, based in Mountain View, California, has partnered with Fabrinet to enhance its mass manufacturing capabilities for the 4D LiDAR chip module. This partnership will leverage Fabrinet's expertise in silicon photonics to produce a compact solution for automotive and industrial applications. The new production line in Thailand is expected to scale up production significantly, meeting the demand for Aeva's third generation of LiDAR technology, which is automotive qualified with IATF 16949 certification.

Fabrinet (NYSE: FN) reported a record first quarter revenue of $543.3 million, exceeding guidance, compared to $436.6 million in the same quarter last year. GAAP net income rose to $44.7 million or $1.20 per diluted share, up from $33.1 million or $0.88 per diluted share in Q1 2021. Non-GAAP net income also increased to $54.2 million or $1.45 per diluted share. The company anticipates second-quarter revenue to be between $540 million and $560 million, with GAAP net income per share expected between $1.24 and $1.31.