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 ...

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 ...

It is projected by analysts that the 'Net Sales- Display Technologies' will reach $912.96 million. The estimate indicates a year-over-year change of +4.7%. In its upcoming report, Corning (GLW) is predicted by Wall Street analysts to post quarterly earnings of $0.50 per share, reflecting an increase of 31.6% compared to the same period last year. Revenues are forecasted to be $3.43 billion, representing a year-over-year increase of 5.2%. The current level reflects no revision in the consensus EPS estimate f ...

Core Insights - STMicroelectronics reported a significant decline in financial performance for Q1 2025, with net revenues of $2.52 billion, a decrease of 27.3% year-over-year and 24.2% quarter-over-quarter [3][5][6] - The gross margin fell to 33.4%, down 830 basis points from the previous year, primarily due to product mix and higher unused capacity charges [3][8] - Operating income plummeted to $3 million, a 99.5% decrease compared to the same quarter last year, resulting in an operating margin of only 0.1% [3][9] Financial Performance - **Net Revenues**: $2,517 million in Q1 2025, down from $3,321 million in Q4 2024 and $3,465 million in Q1 2024 [3][7] - **Gross Profit**: $841 million, a decrease of 41.7% year-over-year [8] - **Operating Income**: $3 million, down from $551 million in Q1 2024 [9] - **Net Income**: $56 million, an 89.1% decline from $513 million in the previous year [3][9] - **Diluted Earnings Per Share**: $0.06, compared to $0.54 in Q1 2024 [3][9] Segment Performance - **Analog, Power & Discrete, MEMS and Sensors (APMS)**: Net revenues of $1,466 million, down 28.0% year-over-year [7] - **Embedded Processing (EMP)**: Net revenues of $742 million, a decrease of 29.1% year-over-year [7] - **RF & Optical Communications (RF&OC)**: Net revenues of $306 million, down 19.2% year-over-year [7] Business Outlook - The company anticipates Q2 2025 net revenues of $2.71 billion, representing a sequential increase of 7.7% but a year-over-year decrease of 16.2% [5][21] - Gross margin is expected to remain around 33.4%, impacted by unused capacity charges [6][21] - The company is on track with a program to reshape its manufacturing footprint and aims for annual cost savings in the high triple-digit million-dollar range by the end of 2027 [5][17] Cash Flow and Financial Position - **Net Cash from Operating Activities**: $574 million, down 51.5% from $859 million in Q1 2024 [13] - **Free Cash Flow**: Positive at $30 million, compared to negative $134 million in the previous year [14] - **Net Capex**: $530 million in Q1 2025, down from $967 million in Q1 2024 [14] - **Inventory**: Increased to $3.01 billion, with days sales of inventory at 167 days [15] Corporate Developments - The company has made adjustments to its segment reporting effective January 1, 2025, to optimize resources and implement synergies [4][43] - STMicroelectronics is focused on innovation and cost management to enhance competitiveness in a challenging market environment [6][17]

Core Viewpoint - Mynaric is ramping up production and customer deliveries of its CONDOR Mk3 optical communications terminal while undergoing StaRUG proceedings for financial restructuring [1][7]. Production and Delivery - The company is committed to delivering scalable products that meet evolving program requirements and drive innovation in multi-orbit constellations [2]. - Mynaric is increasing deliveries of its flagship CONDOR Mk3 terminals [7]. Financial Restructuring - The StaRUG proceedings aim to provide significant debt relief, allowing Mynaric to serve current and potential customers effectively [2][5]. - Mynaric's lenders have agreed to a restructuring plan that includes a capital reduction to zero [5]. - A fourth bridge loan of USD 28 million and an additional USD 25 million restructuring loan have been committed to support ongoing operations and production plans [6][8]. Strategic Partnerships and Projects - Mynaric is involved in key projects such as the U.S. Space Development Agency's Proliferated Warfighter Space Architecture programs and DARPA's Space-BACN program [4]. - The company has been selected by the European Space Agency to investigate optical technologies for next-generation high-throughput optical inter-satellite links [4]. Future Outlook - The restructuring is viewed as a necessary step to create a fresh start for Mynaric, enabling investment in high-tech advancements and maintaining competitive pricing [6].