Fabrinet (FN) FY2019 results: revenue $1.6 billion, up 15.5% on the year
Fabrinet (FN) reported revenue of $1.6 billion for fiscal 2019, the year ended 28 June 2019, up 15.5% on the year before. Net income was $121 million, up 43.7%, and diluted earnings per share $3.23. The figures are the company's own, from the 10-K it filed with the SEC on 20 August 2019.
Revenue
$1.6 billion
+15.5% on the year
FY2012FY2019
Operating margin
7.7%
6.8% a year earlier
FY2012FY2019
Net income
$121 million
+43.7% on the year
FY2012FY2019
Diluted EPS
$3.23
+46.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,584
1,372
1,420
+15.5%
Cost of revenue
1,405
1,219
1,249
+15.3%
Gross profit
179
153
171
+16.8%
Gross margin
11.3%
11.2%
12.1%
Selling, general and administrative
55.1
57.8
65.6
-4.7%
Operating income
123
93.8
106
+30.7%
Operating margin
7.7%
6.8%
7.5%
Interest expense
5.4
3.6
3.3
+49.2%
Pre-tax income
126
88.0
104
+43.4%
Income tax
5.3
3.9
6.7
+36.7%
Effective tax rate
4.2%
4.4%
6.5%
Net income
121
84.2
97.1
+43.7%
Net margin
7.6%
6.1%
6.8%
Diluted EPS
$3.23
$2.21
$2.57
+46.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
147
138
70.9
+6.7%
Capital expenditure
18.7
33.8
68.3
-44.8%
Free cash flow
129
104
2.7
+23.5%
Free cash flow margin
8.1%
7.6%
0.2%
Cash from investing
-98.1
-58.6
-90.6
Cash from financing
-23.2
-54.1
13.4
Depreciation and amortisation
29.9
29.1
23.8
+2.9%
Share-based compensation
17.2
22.6
26.5
-24.0%
Buybacks
5.4
42.4
n/a
-87.3%
Diluted shares, weighted
37m
38m
38m
-1.6%
Shares outstanding at period end
37m
36m
37m
+1.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
863
741
682
+16.5%
Debt
60.9
64.2
71.1
-5.1%
Other liabilities
331
283
280
+17.1%
Total liabilities and equity
1,255
1,088
1,033
+15.4%
Fixed assets
211
220
217
-4.1%
Goodwill
3.7
3.8
3.8
-3.2%
Intangible assets
3.9
4.9
5.8
-20.3%
Investments
201
174
151
+15.3%
Cash and equivalents
181
158
134
+14.4%
Receivables
261
247
264
+5.5%
Inventory
294
258
239
+13.9%
Other assets
101
22.7
18.3
+345.3%
Total assets
1,255
1,088
1,033
+15.4%
10-K for the year ended 28 June 2019, filed 20 August 2019: the filing.