Fabrinet Stock Falls 20% Despite Strong Q4 Results

(RTTNews) - Fabrinet (FN) shares fell $122.20, or 20.41 percent, to $476.39 on Tuesday, despite the company reporting higher fourth-quarter earnings and revenue.

The stock opened at $513.70 and traded between $474.32 and $520.00 during the session on the New York Stock Exchange. It has traded in a 52-week range of $272.49 to $748.89. Trading volume reached 1.76 million shares, compared with an average daily volume of 0.95 million shares.

Earnings rose to $139.26 million, or $3.83 per share, from $87.21 million, or $2.42 per share, a year earlier. Adjusted earnings were $149.08 million, or $4.10 per share. Revenue increased 44.7 percent to $1.316 billion from $909.69 million. For the next quarter, Fabrinet expects revenue of $1.375 billion to $1.425 billion and adjusted earnings per share of $4.10 to $4.25.