Fabrinet (FN) FY2018 results: revenue $1.4 billion, down 3.4% on the year
Fabrinet (FN) reported revenue of $1.4 billion for fiscal 2018, the year ended 29 June 2018, down 3.4% on the year before. Net income was $84 million, down 13.3%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 22 August 2018.
Revenue
$1.4 billion
-3.4% on the year
FY2011FY2018
Operating margin
6.8%
7.5% a year earlier
FY2011FY2018
Net income
$84 million
-13.3% on the year
FY2011FY2018
Diluted EPS
$2.21
-14.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,372
1,420
977
-3.4%
Cost of revenue
1,219
1,249
857
-2.4%
Gross profit
153
171
120
-10.5%
Gross margin
11.2%
12.1%
12.2%
Selling, general and administrative
57.8
65.6
49.8
-11.9%
Operating income
93.8
106
69.8
-11.3%
Operating margin
6.8%
7.5%
7.1%
Interest expense
3.6
3.3
1.6
+8.6%
Pre-tax income
88.0
104
68.2
-15.2%
Income tax
3.9
6.7
6.3
-42.7%
Effective tax rate
4.4%
6.5%
9.3%
Net income
84.2
97.1
61.9
-13.3%
Net margin
6.1%
6.8%
6.3%
Diluted EPS
$2.21
$2.57
$1.68
-14.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
138
70.9
47.1
+94.7%
Capital expenditure
33.8
68.3
40.6
-50.4%
Free cash flow
104
2.7
6.5
+3,801.8%
Free cash flow margin
7.6%
0.2%
0.7%
Cash from investing
-58.6
-90.6
-39.6
Cash from financing
-54.1
13.4
22.9
Depreciation and amortisation
29.1
23.8
17.4
+22.3%
Share-based compensation
22.6
26.5
9.9
-14.8%
Buybacks
42.4
n/a
n/a
Diluted shares, weighted
38m
38m
37m
+0.5%
Shares outstanding at period end
36m
37m
36m
-2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
741
682
554
+8.7%
Debt
64.2
71.1
60.4
-9.7%
Other liabilities
283
280
242
+0.9%
Total liabilities and equity
1,088
1,033
856
+5.3%
Fixed assets
220
217
178
+1.3%
Goodwill
3.8
3.8
0.0
+0.6%
Intangible assets
4.9
5.8
0.5
-16.4%
Investments
174
151
142
+15.1%
Cash and equivalents
158
134
143
+18.1%
Receivables
247
264
196
-6.6%
Inventory
258
239
181
+8.0%
Other assets
22.7
18.3
15.4
+24.3%
Total assets
1,088
1,033
856
+5.3%
10-K for the year ended 29 June 2018, filed 22 August 2018: the filing.