Fabrinet (NYSE: FN) surged in pre-market trading on Tuesday after the provider of advanced optical packaging and electronic manufacturing services reported strong fiscal fourth-quarter results. The company reported adjusted earnings of $1.86 per diluted share, up by 10.7% year-over-year and beating analysts’ estimates of $1.80 per share.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The company’s Q4 revenues grew by 11.56% year-over-year to $655.9 million again surpassing Street estimates of $641.42 million.
Looking forward, in fiscal Q1, Fabrinet has projected revenues in the range of $650 million to $670 million while adjusted earnings are likely to be between $1.83 and $1.90 per share.
Today’s price surge aside, FN stock has dropped by more than 10% year-to-date.
