Fabrinet: Best Of An Ugly Breed, Valued Like A Dog
Brendan Rose • 21 Comments
Brendan Rose • 21 Comments
Thu, Dec. 1, 12:03 PM
Mon, Nov. 7, 5:36 PM
Mon, Nov. 7, 5:17 PM
- Results – revenue $332.04M (+53.4% Y/Y, $22.6M above estimates), EPS $0.80 ($0.09 above estimates), net income $29.7M (+83% Y/Y)
- Q2 (13-week quarter) projections – revenue $332M-$336M, EPS $0.78-$0.80
- Fabrinet (NYSE:FN) CEO Tom Mitchell: "We are benefiting from positive trends in the optical industry, including increasing activity from new and existing customer programs. We believe we are in a strong position to serve industry demand with new capacity from the first building at our new campus in Chonburi, Thailand, and our growing new product introduction (NPI) operation in Santa Clara. Our recent acquisition of Exception EMS, U.K. extends our NPI capabilities while diversifying our customer base."
- Share price summary – 1-month, -7.6%; 3-month, +14%; 1-year, +85.7%
- Prior quarters overview
- Conference call
- Press release
Mon, Nov. 7, 4:31 PM
Sun, Nov. 6, 5:35 PM
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Mon, Oct. 31, 10:34 AM
- Alex Henderson recommends Oclaro (OCLR +1.5%), NeoPhotonics (NPTN +1.9%), Lumentum Holdings (LITE -2.5%), Fabrinet (FN +0.9%), Finisar (FNSR +0.3%), Inphi (IPHI -0.1%), II-VI (IIVI +1.8%), GigPeak (GIG) and M/A-COM Technology Solutions Holdings (MTSI +0.5%) despite recent pullback in the sector.
- On Acacia Communications (ACIA +0.2%), considers "overcorrected" and sees a reversal in movement on projected strong Q4 guidance and 2017 upside. Acacia Communications was further initiated with an Outperform rating at William Blair earlier this morning.
Thu, Oct. 27, 12:24 PM
- Infinera (NASDAQ:INFN), reporting Q3 results yesterday and kicking off an upcoming wave of earnings for the segment, realized an expected 20% revenue fall-off, continuing to note a challenging environment and weak demand. Its shares are lower today by 8%.
- Others in the space – Acacia Communications (ACIA -11.8%), Oclaro (OCLR -9%), NeoPhotonics (NPTN -7.2%), Fabrinet (FN -5.3%), Ciena (CIEN -3%), Finisar (FNSR -5%) (strong Q3 reported in September), Lumentum Holdings (LITE -2.7%), Applied Optoelectronics (AAOI -4.6%)
Tue, Aug. 16, 11:59 AM
Tue, Aug. 16, 9:18 AM
Mon, Aug. 15, 5:34 PM
Mon, Aug. 15, 4:21 PM
Sun, Aug. 14, 5:35 PM
Fri, Aug. 12, 12:00 PM
Tue, Aug. 2, 3:33 PM
Thu, Jul. 28, 12:00 PM
Thu, Jul. 28, 10:05 AM
- Infinera (INFN -33.1%) beat expectations yesterday, but its demand and near-term revenue outlooks are bleak.
- The company projects Q3 revenue of $185M, +/- $5M. The midpoint of this guidance would denote a 20% Y/Y revenue decrease.
- Infinera has so far been downgraded at J.P. Morgan, Nomura, B. Riley & Co. and Raymond James.
- Management cites weakening demand in North America and Europe, long-haul win challenges and subsea business win rates lower-than-expected that the company expects to hurt revenue for a period of time going forward.
- This news comes only days after a strong cycle in the optical technologies sector was forecast.
- Other optical makers falling today include Lumentum Holdings (LITE -3.7%) NeoPhotonics Corporation (NPTN -4%), Fabrinet (FN -7.1%), Oclaro (OCLR -0.9%) and Ciena Corporation (CIEN -7.8%).
- Infinera earnings call transcript