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EX - 99.1 2 fn - 20201202xex991.htm EX - 99.1 EX - 99.1 Fabrinet Announces Second Quarter Fiscal Year 2021 Financial Results - BANGKOK , Thailand – February 1 , 2021 – Fabrinet ( NYSE : FN ) , a leading provider of advanced optical packaging and precision optical , electro - mechanical and electronic manufacturing services to original equipment manufacturers of complex products , today announced its financial results for its second fiscal quarter ended December 25 , 2020 . Record Second Quarter Revenue of $ 453.8 million Exceeds Guidance Record GAAP and Non - GAAP Net Income per Share Exceed Guidance Seamus Grady , Chief Executive Officer of Fabrinet , said , " We delivered record revenue and profitability that exceeded our guidance ranges in the second quarter . Newer programs helped drive revenue upside while margin improvement contributed to strong profitability in the quarter . " Grady continued , “ Based on our anticipated growth , we have broken ground on construction for an additional building at our Chonburi campus . As we look ahead , we are optimistic that the third quarter will represent another record - breaking quarter for the company . " Second Quarter Fiscal Year 2021 Financial Highlights GAAP Results ● Exhibit 99.1 ● ● Revenue for the second quarter of fiscal year 2021 was $ 453.8 million , compared to $ 426.2 million in the second quarter of fiscal year 2020 . GAAP net income for the second quarter of fiscal year 2021 was $ 35.4 million , compared to GAAP net income of $ 31.2 million for the second quarter of fiscal year 2020 . GAAP net income per diluted share for the second quarter of fiscal year 2021 was $ 0.94 , compared to GAAP net income per diluted share of $ 0.83 for the second quarter of fiscal year 2020 . Non - GAAP Results Non - GAAP net income for the second quarter of fiscal year 2021 was $ 41.5 million , compared to non - GAAP net income of $ 37.7 million for the second quarter of fiscal year 2020 . Non - GAAP net income per diluted share for the second quarter of fiscal year 2021 was $ 1.10 , compared to non - GAAP net income per diluted share of $ 1.00 for the second quarter of fiscal year 2020 . Business Outlook Based on information available as of February 1 , 2021 , Fabrinet is issuing guidance for its third fiscal quarter ending March 26 , 2021 , as follows : Fabrinet expects third quarter revenue to be in the range of $ 455 million to $ 475 million . GAAP net income per diluted share is expected to be in the range of $ 0.94 to $ 1.01 , based on approximately 37.6 million fully diluted shares outstanding . Non - GAAP net income per diluted share is expected to be in the range of $ 1.10 to $ 1.17 , based on approximately 37.6 million fully diluted shares outstanding .