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EX - 99.1 2 fn - 20210503xex991q3.htm EX - 99.1 EX - 99.1 Fabrinet Announces Third Quarter Fiscal Year 2021 Financial Results Record Third Quarter Revenue of $ 479.3 Million Exceeds Guidance BANGKOK , Thailand – May 3 , 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 third fiscal quarter ended March 26 , 2021 . Seamus Grady , Chief Executive Officer of Fabrinet , said , " For the third quarter in a row , we delivered record revenue that exceeded our guidance . Notably , we saw sequential revenue growth from all the end markets that we track combined with improving operating margins , both of which helped generate record net income . " Exhibit 99.1 Grady continued , " Based on our current outlook and continued demand , we expect another record performance in the fourth quarter and we remain well - positioned to continue to deliver strong results over the longer - term . " Third Quarter Fiscal Year 2021 Financial Highlights GAAP Results ● ● Revenue for the third quarter of fiscal year 2021 was $ 479.3 million , compared to $ 411.2 million in the third quarter of fiscal year 2020 . GAAP net income for the third quarter of fiscal year 2021 was $ 37.5 million , compared to GAAP net income of $ 28.3 million for the third quarter of fiscal year 2020 . GAAP net income per diluted share for the third quarter of fiscal year 2021 was $ 1.00 , compared to GAAP net income per diluted share of $ 0.75 for the third quarter of fiscal year 2020 . Non - GAAP Results Non - GAAP net income for the third quarter of fiscal year 2021 was $ 45.4 million , compared to non - GAAP net income of $ 34.8 million for the third quarter of fiscal year 2020 . Non - GAAP net income per diluted share for the third quarter of fiscal year 2021 was $ 1.21 , compared to non - GAAP net income per diluted share of $ 0.92 for the third quarter of fiscal year 2020 . Business Outlook Based on information available as of May 3 , 2021 , Fabrinet is issuing guidance for its fourth fiscal quarter ending June 25 , 2021 , as follows : Fabrinet expects fourth quarter revenue to be in the range of $ 475 million to $ 495 million . GAAP net income per diluted share is expected to be in the range of $ 1.02 to $ 1.09 , 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 $ 1.18 to $ 1.25 , based on approximately 37.6 million fully diluted shares outstanding .