Fabrinet (FN) FY 2025 Conference June 10, 2025 11:00 AM ET Speaker0 Hi, everybody. Welcome. Good morning, good afternoon, depending on where you are. Welcome to the Rosenblatt Age of AI conference, to our June session. I am Mike Genovese, the cloud and communications equipment infrastructure analyst. I'm super happy that you're all joining us today and very pleased to have the management team from Fabrinet. We have Seamus, we have Saba, and we have Garo, CEO, CFO, and head of investor relations. Great to se ...

BANGKOK, June 03, 2025 (GLOBE NEWSWIRE) -- 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 that its management will present virtually at the Rosenblatt Securities 5th Annual Technology Summit. The Fabrinet presentation is scheduled for Tuesday, June 10, 2025 at 11:00 a.m. EDT (8:00 a.m. PDT). A live webcast, as well as a replay, will b ...

Fabrinet (FN) FY Conference May 15, 2025 10:00 AM ET Speaker0 Good morning, everyone. I'm Samik Chatterjee, and I cover hardware and networking companies at JP Morgan. For the session here I have with me Fabrinet management. I have the pleasure of hosting Seamus Grady, CEO and Shava Swerha, CFO. Thank you both for coming to the conference. Thank you to the audience as well. Seamus, I'll start you off with a macro question. I'm fully cognizant there's lower visibility in some cases given where Fabrinet sits ...

BANGKOK, May 06, 2025 (GLOBE NEWSWIRE) -- 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 that its management will present at the 53rd Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston, MA. The Fabrinet presentation is scheduled for Thursday, May 15, 2025 at 10:00 a.m. EDT (7:00 a.m. PDT). A live webca ...

Revenue Trends - The percentage of revenues generated from locations outside North America decreased from 62.8% in Q3 2024 to 53.8% in Q3 2025, primarily due to increased revenue from a U.S. customer[122]. - For the nine months ended March 28, 2025, the percentage of revenues from outside North America decreased from 63.7% to 56.8%[123]. - Revenues increased by $379.9 million, or 17.8%, to $2,509.6 million for the nine months ended March 28, 2025, driven by demand for optical and non-optical communications products[161]. - Revenues from optical communications products rose by $238.1 million, or 14.1%, to $1,930.7 million, representing 76.9% of total revenues for the nine months ended March 28, 2025[161]. - Revenues from non-optical communications products increased by $141.9 million, or 32.5%, to $578.9 million, accounting for 23.1% of total revenues for the same period[161]. - For the three months ended March 28, 2025, revenues increased by $140.3 million, or 19.2%, to $871.8 million compared to $731.5 million for the same period in 2024[160]. - Revenues from optical communications products were $657.2 million, representing 75.4% of total revenues, with an increase of $65.8 million, or 11.1%, compared to the prior year[160]. - Revenues from non-optical communications products increased by $74.5 million, or 53.2%, to $214.6 million, primarily driven by growth in automotive revenue[160]. Financial Performance - Gross profit for the three months ended March 28, 2025, was $102.2 million, with a gross margin of 11.7%, compared to $90.9 million and 12.4% in the same period of 2024[156][157]. - Operating income for the three months ended March 28, 2025, was $78.9 million, representing an operating margin of 9.0%, compared to $71.3 million and 9.7% in the same period of 2024[156][157]. - Net income for the three months ended March 28, 2025, was $81.3 million, compared to $80.9 million in the same period of 2024, reflecting a slight increase[156]. - Gross profit for the nine months ended March 28, 2025, increased by $38.4 million, or 14.6%, to $302.1 million, representing 12.0% of revenues[165]. - Operating income for the nine months ended March 28, 2025, increased by $31.1 million, or 15.2%, to $235.4 million, or 9.4% of revenues[170]. - Net income for the nine months ended March 28, 2025, was $245.3 million, or 9.8% of revenues, compared to $215.1 million, or 10.1% of revenues for the same period last year[180]. Expenses and Costs - The company expects SG&A expenses for fiscal year 2025 to increase compared to fiscal year 2024, mainly due to higher employee costs, legal expenses, and R&D expenses[132]. - SG&A expenses for the nine months ended March 28, 2025, increased by $5.9 million, or 9.9%, to $65.3 million, or 2.6% of revenues[167]. - The company anticipates incurring incremental costs of revenue due to planned expansion into new geographic markets, although the exact amount is undetermined[130]. Tax and Financial Management - The effective tax rate for the company is influenced by the mix of tax rates in various jurisdictions, with a corporate income tax rate of 20% for its Thai subsidiary[149][150][151]. - The company has received preferential tax treatment in Thailand, including a corporate tax exemption on income generated from certain projects through June 2026[150]. - The company’s deferred income tax assets are based on estimates of future taxable income, which may change depending on market conditions and tax law changes[152]. Cash and Investments - Cash, cash equivalents, and short-term investments totaled $950.7 million as of March 28, 2025, with no outstanding debt[184]. - Cash, cash equivalents, and short-term investments totaled $950.7 million as of March 28, 2025, up from $858.6 million as of June 28, 2024[194]. - Interest income for the nine months ended March 28, 2025, increased by $10.3 million, or 46.6%, to $32.4 million, or 1.3% of revenues[172]. - Cash used in investing activities increased due to higher investment purchases and capital expenditures, with cash used for the nine months ended March 28, 2025, compared to March 29, 2024[191]. - Cash used in financing activities rose due to increased share repurchases and higher withholding tax, offset by lower long-term debt repayments for the nine months ended March 28, 2025, compared to March 29, 2024[192]. - A 10 basis point decline in interest rates would have decreased interest income by approximately $0.7 million for the nine months ended March 28, 2025, compared to $0.5 million for the same period in 2024[194]. Foreign Currency Exposure - As of March 28, 2025, foreign currency denominated assets included 33,796 thousand USD in Thai baht, 4,885 thousand USD in RMB, and 3,106 thousand USD in GBP[136]. - Foreign currency liabilities as of March 28, 2025, included 120,606 thousand USD in Thai baht, 11,074 thousand USD in RMB, and 144 thousand USD in GBP[136]. - The company has $155.0 million of foreign currency forward contracts outstanding on Thai baht payables as of March 28, 2025, compared to $135.0 million as of June 28, 2024[137]. - The majority of the company's revenues are denominated in U.S. dollars, while significant expenses are in Thai baht and RMB, leading to foreign currency risk exposure[197]. - A 10% weakening of the U.S. dollar against the Thai baht and RMB would have resulted in a decrease in the net dollar position of approximately $10.0 million and $7.2 million as of March 28, 2025, and June 28, 2024, respectively[199]. - The company continues to monitor the financial performance of suppliers and customers to mitigate credit risk, believing it will not incur material losses from such exposures[200]. Strategic Initiatives - The company plans to diversify revenue sources and execute acquisitions as part of its growth strategy[116]. - The company believes it is a global leader in providing advanced optical packaging and manufacturing services across various complex industries[117]. - The company began construction of a new manufacturing facility of approximately 2.0 million square feet at its Chonburi campus, with an expected cost of $132.5 million (Thai baht 4.45 billion)[188]. - The company has not used derivative financial instruments in its investment portfolio, indicating a conservative investment strategy[194].

Fabrinet (FN) Q3 2025 Earnings Call May 05, 2025 05:00 PM ET Company Participants Garo Toomajanian - VP - IR & Corporate DevelopmentSeamus Grady - CEOCsaba Sverha - CFOKarl Ackerman - Managing Director - Equity ResearchSamik Chatterjee - Executive DirectorSteven Fox - Founder & CEOGeorge Wang - Vice President Conference Call Participants Mike Genovese - Senior Research AnalystRyan Koontz - Senior AnalystTim Savageaux - MD & Senior Research Analyst Operator Good afternoon. Welcome to Fabrinet's Financial Res ...

Fabrinet (FN) Q3 2025 Earnings Call May 05, 2025 05:00 PM ET Speaker0 Good afternoon. Welcome to Fabrinet's Financial Results Conference Call for the Third Quarter of Fiscal Year twenty twenty five. At this time, all participants are in a listen only mode. Later, will conduct a question and answer session, and instructions on how to participate will be provided at that time. As a reminder, today's call is being recorded. I would now like to turn the call over to your host, Garo Tomajanian, Vice President of ...

COMPANY OVERVIEW May 5, 2025 1 Disclaimer This presentation and the accompanying oral presentation contain "forward-looking" statements that are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of historical fact contained in this presentation, including information concerning our business plans and objectives, potential growth opportunities, competitive position, industry environment a ...

BANGKOK, Thailand – May 5, 2025 – 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 28, 2025. Seamus Grady, Chief Executive Officer of Fabrinet, said, "We had a very strong third quarter with revenue of $872 million dollars, which was above our guidance range. We delivered an ...

Record Third Quarter Revenue Exceeds Guidance Range BANGKOK, May 05, 2025 (GLOBE NEWSWIRE) -- 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 28, 2025. Seamus Grady, Chief Executive Officer of Fabrinet, said, “We had a very strong third quarter with revenue of $872 million ...