Summary by Moomoo AI
Fabrinet achieved record fourth quarter results with revenue of $753.3M, up from $655.9M YoY. GAAP net income rose to $81.1M from $60.8M, with diluted EPS of $2.22. Non-GAAP net income reached $88.0M with EPS of $2.41, exceeding guidance ranges. For fiscal year 2024, revenue grew to $2.88B from $2.65B, with GAAP net income of $296.2M.The company's Board approved an expansion of its share repurchase program by $139.5M, bringing the total authorization to $434.3M with $200M remaining. For Q1 FY2025, Fabrinet expects revenue between $760M-$780M and non-GAAP EPS of $2.33-$2.40.The company announced its FY2025 executive incentive plan, including target bonuses for key executives and equity awards comprising RSUs, PSUs, and Stretch PSUs. CEO Seamus Grady's base salary was increased 8% to $1.35M, with a target bonus of $1.89M and equity grants valued at $7.95M.
