Fabrinet Q4 Profit Down

(RTTNews) - Fabrinet (FN), Thursday reported fourth-quarter net income of $10.3 million or $0.29 per share, down from $15.1 million or $0.43 per share last year.

Adjusted earnings for the quarter were $12.1 million or $0.34 per share, compared with $12.4 million or $0.35 per share last year.

Revenues for the quarter rose to $160.1 million from $159.9 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.35 per share on revenues of $172.0 million for the quarter. Analysts' estimates typically exclude one-time items.

Fabrinet expects first-quarter earnings of $0.30 per share, adjusted earnings of about $0.40 per share and revenues to be about $189 million.

Analysts currently estimate earnings of $0.39 per share on revenues of $179.2 million for the quarter.