Fabrinet Q2 Profit Increases, beats estimates

(RTTNews) - Fabrinet (FN) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $63.2 million, or $1.71 per share. This compares with $48.9 million, or $1.30 per share, in last year's second quarter.

Excluding items, Fabrinet reported adjusted earnings of $70.0 million or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.0% to $668.7 million from $566.6 million last year.

Fabrinet earnings at a glance (GAAP) :

-Earnings (Q2): $63.2 Mln. vs. $48.9 Mln. last year. -EPS (Q2): $1.71 vs. $1.30 last year. -Analyst Estimate: $1.87 -Revenue (Q2): $668.7 Mln vs. $566.6 Mln last year.

-Guidance: Next quarter EPS guidance: $1.86 - $1.93 Next quarter revenue guidance: $640-$660 mln