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EX - 99.1 2 fn - 20211101xex991q122.htm EX - 99.1 EX - 99.1 Fabrinet Announces First Quarter Fiscal Year 2022 Financial Results Record First Quarter Revenue of $ 543.3 Million Exceeds Guidance BANGKOK , Thailand - November 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 first fiscal quarter ended September 24 , 2021 . Seamus Grady , Chief Executive Officer of Fabrinet , said , " We had a strong start to fiscal 2022 with revenue and profitability that exceeded our guidance . By working in close partnership with our customers and suppliers , our supply chain team was effective at reducing the impact of component shortages on our business , particularly in the optical communications market . ” Grady continued , " We are optimistic about continued strong demand across our business and are anticipating healthy sequential growth despite ongoing supply chain headwinds . " First Quarter Fiscal Year 2022 Financial Highlights GAAP Results Exhibit 99.1 ● ● ● Revenue for the first quarter of fiscal year 2022 was $ 543.3 million , compared to $ 436.6 million in the first quarter of fiscal year 2021 . GAAP net income for the first quarter of fiscal year 2022 was $ 44.7 million , compared to GAAP net income of $ 33.1 million for the first quarter of fiscal year 2021 . GAAP net income per diluted share for the first quarter of fiscal year 2022 was $ 1.20 , compared to GAAP net income per diluted share of $ 0.88 for the first quarter of fiscal year 2021 . Non - GAAP Results Non - GAAP net income for the first quarter of fiscal year 2022 was $ 54.2 million , compared to non - GAAP net income of $ 39.3 million for the first quarter of fiscal year 2021 . Non - GAAP net income per diluted share for the first quarter of fiscal year 2022 was $ 1.45 , compared to non - GAAP net income per diluted share of $ 1.05 for the first quarter of fiscal year 2021 . Business Outlook Based on information available as of November 1 , 2021 , Fabrinet is issuing guidance for its second fiscal quarter ending December 24 , 2021 , as follows : Fabrinet expects second quarter revenue to be in the range of $ 540 million to $ 560 million . GAAP net income per diluted share is expected to be in the range of $ 1.24 to $ 1.31 , 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 $ 1.42 to $ 1.49 , based on approximately 37.6 million fully diluted shares outstanding .