Fabrinet (NYSE: FN), a leading provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services, reported record revenue for the first quarter of fiscal 2025, but faced challenges due to foreign exchange headwinds and uncertainty around product mix shifts.
The company's revenue surged 17% year-over-year to $804 million, driven by strong growth in its optical communications and datacom segments. The optical communications revenue, which contributed 78% of total revenue, grew by 17% year-over-year, with datacom revenue increasing by an impressive 36% due to robust demand for optical interconnect products for AI applications.
Fabrinet also made significant strides in diversifying its revenue streams, with its automotive revenue exceeding $100 million for the first time, fueled by strong momentum in EV charging infrastructure products. Additionally, the company is making progress on its new facility, which is expected to increase its total footprint by more than 50%, supporting future growth.
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