Fabrinet (NYSE:FN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Fabrinet Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.33 in the quarter versus EPS of -0.30 in the year-earlier quarter.
Revenue: Rose 11.93% to $155.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fabrinet reported adjusted EPS income of $0.33 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $150.14 million.
Quoting Management: Tom Mitchell, Chief Executive Officer of Fabrinet, said, “While overall industry demand remains muted, I am pleased that our third quarter results demonstrate the consistency of our operating model, with revenue and earnings per share performance above expectations. Our customer relationships remain strong and we continue to have success with new customers and new programs from existing customers. The net result is that we have continuing confidence in our ability to deliver profitable growth over the long-term.”
Key Stats (on next page)…
Revenue decreased 7.07% from $167.43 million in the previous quarter. EPS decreased to $0.33 in the quarter versus EPS of $0.35 in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)