Wasatch Global Investors, an asset management company, released its third-quarter 2025 “Wasatch Small Cap Growth Strategy” investor letter. A copy of the letter can be downloaded here. US small-cap equities rallied strongly in the third quarter. The Fed Reserve’s interest rate cut supported the rally. However, the fund-Investor Class struggled to keep up with the rally and ended the period down -3.17% vs. 12.19% gain for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings t ...

BANGKOK, Dec. 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 in-person at the Barclays 23rd Annual Global Technology Conference in San Francisco, CA. The Fabrinet presentation is scheduled for Wednesday, December 10, 2025 at 1:55 p.m. PST (4:55 p.m. EST). A live webcast, as ...

Group 1: Fund Performance - The FPA Queens Road Small Cap Value Fund returned 7.46% in Q3 2025, underperforming the Russell 2000 Value Index which returned 12.60% [1] - For the first three quarters of 2025, the fund achieved a return of 13.77%, outperforming the index's return of 9.04% [1] Group 2: Fabrinet Overview - Fabrinet (NYSE:FN) specializes in optical packaging and precision manufacturing services, with a one-month return of -4.85% and a 52-week gain of 76.79% [2] - As of November 24, 2025, Fabrinet's stock closed at $462.67 per share, with a market capitalization of $16.576 billion [2] Group 3: Fabrinet's Market Position - Fabrinet dominates its niche in optical networking equipment and has shown impressive historical revenue growth and increasing operating margins [3] - The company has a significant customer in Nvidia, which accounts for 10% of its revenue, and has seen its stock price double since April due to rising expectations for data center spending [3] - Fabrinet is expected to continue being a "compounder" in the market, with ongoing demand for high bandwidth networking [3] Group 4: Revenue and Hedge Fund Interest - Fabrinet generated $978 million in revenue for fiscal Q1 2026, marking a 22% year-over-year increase and an 8% increase from the previous quarter [4] - The number of hedge funds holding Fabrinet decreased from 38 to 32 from the previous quarter [4]

Core Insights - Fabrinet reported record revenue of $978 million for the first fiscal quarter, exceeding guidance and driven by strong telecom performance and early contributions from High-Performance Computing revenue [2][6] - The company achieved GAAP net income of $95.9 million, up from $77.4 million year-over-year, with diluted earnings per share (EPS) of $2.66 compared to $2.13 in the previous year [6][22] - Non-GAAP net income reached $105.3 million, an increase from $86.9 million, with non-GAAP diluted EPS of $2.92, up from $2.39 [6][22] - For the second fiscal quarter, Fabrinet expects revenue between $1.05 billion and $1.10 billion, with GAAP diluted EPS guidance of $2.91 to $3.06 and non-GAAP diluted EPS guidance of $3.15 to $3.30 [4][26] Financial Performance - First quarter revenue for fiscal year 2026 was $978.1 million, a 21.6% increase from $804.2 million in the same quarter of fiscal year 2025 [6] - GAAP net income for the first quarter was $95.9 million, representing a 23.9% increase from $77.4 million year-over-year [6] - Non-GAAP net income for the first quarter was $105.3 million, up 21.0% from $86.9 million in the prior year [6] - The company reported a gross profit of $116.4 million, with a gross margin of 11.9% for the first quarter [20] Business Outlook - Fabrinet is optimistic about growth acceleration in the second quarter, supported by multiple tailwinds [2] - The company anticipates continued strong execution in its operations, contributing to revenue growth [2] - Guidance for the second quarter includes expectations for revenue in the range of $1.05 billion to $1.10 billion [4][26]

Core Insights - Fabrinet has appointed Caroline Dowling to its Board of Directors, enhancing its leadership with her extensive experience in global manufacturing and the technology sector [1][2]. Company Overview - Fabrinet is a leading provider of advanced optical packaging and precision manufacturing services for original equipment manufacturers, focusing on complex products such as optical communication components, automotive components, and medical devices [4]. - The company operates manufacturing facilities in Thailand, the USA, China, and Israel, offering a wide range of capabilities across the entire manufacturing process [4]. Leadership Experience - Caroline Dowling has over 20 years of experience at Flex, a top-tier electronic manufacturing services provider, where she held significant leadership roles, including Business Group President [2]. - Dowling's previous roles included managing complex supply chains and leading divisions related to telecommunications and cloud data centers, which will contribute to Fabrinet's strategic direction [2][3]. Board Contributions - Dowling is currently a board member of CRH plc and DCC plc, serving on various committees, which reflects her governance experience [3]. - Her appointment is expected to provide valuable insights and perspectives that will drive long-term value for Fabrinet's stakeholders [3].

Core Insights - LRT Capital Management's "LRT Global Opportunities Strategy" reported a challenging performance in September 2025, with a net return of -8.00% for the month and a year-to-date return of -0.17% [1] - The strategy employs a systematic long/short approach to generate positive returns while managing downside risks and maintaining low net exposure to equity markets [1] Company Highlights - Fabrinet (NYSE:FN) is highlighted as a key stock in the LRT Global Opportunities Strategy, specializing in optical packaging and precision manufacturing services [2][3] - Fabrinet's stock experienced a one-month return of -0.10% but has gained 52.82% over the last 52 weeks, closing at $370.29 per share with a market capitalization of $13.23 billion on October 6, 2025 [2] - The company is recognized for its unique focus on complex manufacturing challenges, positioning itself as a critical partner in the optical communications, industrial laser, and automotive industries, which supports its long-term growth potential [3]

Core Insights - Fabrinet reported exceptional financial results for the fourth quarter and fiscal year 2025, achieving record quarterly revenue of $910 million and annual revenue of $3.4 billion, marking a 19% increase year-over-year [2][6][7]. Financial Highlights - Fourth quarter revenue was $909.7 million, up from $753.3 million in the same quarter of fiscal year 2024 [7]. - GAAP net income for the fourth quarter was $87.2 million, compared to $81.1 million in the fourth quarter of fiscal year 2024 [7]. - Non-GAAP net income for the fourth quarter was $95.6 million, compared to $88.0 million in the same quarter of the previous year [7]. - For fiscal year 2025, GAAP net income was $332.5 million, an increase from $296.2 million in fiscal year 2024 [7]. - Non-GAAP net income for fiscal year 2025 was $368.8 million, compared to $324.6 million in fiscal year 2024 [7]. Business Outlook - Fabrinet expects first quarter revenue for fiscal year 2026 to be in the range of $910 million to $950 million [5]. - The company remains optimistic about the growing demand across all areas of its business, anticipating favorable trends to continue into the first quarter and beyond [2][5]. Operational Performance - The company achieved a gross profit of $111.3 million for the fourth quarter, with a gross margin of 12.2% [27]. - Operating income for the fourth quarter was $89.1 million, reflecting an operating margin of 9.8% [28]. - The company reported a non-GAAP operating profit of $97.5 million for the fourth quarter, with a non-GAAP operating margin of 10.7% [28]. Cash Flow and Investments - Net cash provided by operating activities for fiscal year 2025 was $328.4 million, down from $413.1 million in fiscal year 2024 [31]. - Non-GAAP free cash flow for fiscal year 2025 was $207.3 million, compared to $365.6 million in the previous year [31].

Core Insights - Fabrinet will release its financial results for the fourth quarter and fiscal year 2025 on August 18, 2025, after market close [1] - A conference call and webcast will be held on the same day at 5:00 p.m. EDT to discuss the results [2] Company Overview - Fabrinet is a leading provider of advanced optical packaging and precision manufacturing services for original equipment manufacturers of complex products [3] - The company specializes in optical communication components, automotive components, medical devices, and industrial lasers and sensors [3] - Fabrinet operates engineering and manufacturing facilities in Thailand, the USA, China, and Israel [3]

Core Insights - Fabrinet, a leading provider of advanced optical packaging and precision manufacturing services, will present at the Rosenblatt Securities 5th Annual Technology Summit on June 10, 2025 [1][2]. Company Overview - Fabrinet specializes in manufacturing services for original equipment manufacturers of complex products, including optical communication components, automotive components, medical devices, and industrial lasers [3]. - The company offers a comprehensive range of capabilities throughout the manufacturing process, such as process design, supply chain management, advanced packaging, integration, and testing [3]. - Fabrinet operates engineering and manufacturing facilities in Thailand, the USA, China, and Israel, focusing on high complexity products in various volumes [3].