Fabrinet · NYSE:FN
Fabrinet — Investor Presentation (August 2019)
15 slides from Fabrinet's investor presentation, Aug 19, 2019
Slide 1: Company Overview
Company Overview August 19, 2019
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of histori
Slide 3: Company Overview
Company Overview Global leader in advanced precision optical/ electronic/mechanical manufacturing services Fabrinet UK Calne, Wiltshire, UK Focus on high-mix/low-volume mission- VitroCom Mountain Lakes, NJ critical components and modules Fabrinet West Fabrinet AsiaCasix Santa Clara, CA Fuzhou, China
Slide 4: Products We Manufacture
Products We Manufacture Optical Industrial Lasers Automotive Optical Sensing Communications Transceivers Fiber Lasers Autonomous LIDAR Modulators Solid-State Lasers Vehicles 3D Sensing Optical Amplifiers Gas Lasers LED & Laser AR/VR Systems Lighting ROADM Ultrafast Lasers
Slide 5: Efficient Global Manufacturing Footprint
Efficient Global Manufacturing Footprint Scalable Optical & Electro-Mechanical Assembly Customized Optics Quick-turn NPI Services Bangkok, Thailand Fuzhou, China Santa Clara, USA Pinehurst campus Casix Fabrinet West New Jersey, USA Calne, UK Chonburi, Thailand Fabrinet UK Chonburi campus VitroCom 5
Slide 6: Investment Highlights
Investment Highlights Large & Growing Addressable Markets Differentiated Business Model with Significant Barriers to Entry Unique Expertise in Precision Manufacturing Technologies Geared To Next-Generation Products in Diverse Industries Strong Relationships With Industry Leading OEMs Demon
Slide 7: Strong Revenue
Strong Revenue Consolidated revenues US$MM Lasers, sensors and other revenues Optical communications 450.0 403.1 399.0 405.1 400.0 377.2 366.8 370.5 357.3 351.2 337.1 345.3 350.0 332.0 332.2 300.0 250.0 200.0 150.0 100.0 50.0 - Sep'16 Sep'17 Sep'18 Dec'16 Dec'17 Dec'18 Mar'17 Mar'18 Mar '19 Jun'17 J
Slide 8: Consistent Profitability Through the Cycles
Consistent Profitability Through the Cycles Non-GAAP gross margin and non-GAAP operating margin (1) % of Sales 14.0% 12.5% 12.5% 11.5% 11.7% 11.7% 11.8% 11.8% 12.0% 9.6% 8.9% 9.1% 9.1% 10.0% 8.4% 8.6% 8.0% 7.7% 6.0% 4.0% 2.0% 0.0% FY2015 FY2016 FY2017 FY2018 FY2019 4Q18 4Q19 Gross margin Operating m
Slide 9: Recent Financial Performance
Recent Financial Performance Key Financials US$MM, except per share figures 3 months ended 28-Jun-19 29-Jun-18 Q4 revenue of $405.1 MM was up Revenue 405.1 345.3 17% year-over-year Y-o-Y change 17% -7% Q4 non-GAAP gross margin of Gross profit (non-GAAP) (1) 48.0 40.6 11.8% was slightly below the
Slide 10: Balance Sheet Supports Growth
Balance Sheet Supports Growth Selected Items US$MM As of Jun 28, 2019 Cash, cash equivalents (1) 444.7 Working capital (2) 296.6 Property, plant & equipment, net 210.7 Total debt (3) 60.9 Total shareholders’ equity 863.1 (1) Cash & cash equivalents include marketable securities and restricted cash (
Slide 11: Thank You
fabrinet . mm >) —< a TRUSTED MANUFACTURING PARTNER OF THE WORLD'S LEADING OEMS Thank You
Slide 12: Appendix
fabrinet . mm >) —< a TRUSTED MANUFACTURING PARTNER OF THE WORLD'S LEADING OEMS Appendix
Slide 13: Non-GAAP Reconciliation of Gross Margin and Operating Margin
Non-GAAP Reconciliation of Gross Margin and Operating Margin Reconciliation of GAAP Gross Profit and GAAP Gross Margin to Non-GAAP Gross Profit and Non-GAAP Gross Margin (in thousands of U.S. dollars) Three Months Ended Twelve Months Ended June 28, March 29, June 29, June 28, June 29, June 30, June
Slide 14: Non-GAAP Reconciliation of Net Profit and EPS
Non-GAAP Reconciliation of Net Profit and EPS Three Months End (in thousands of U.S. dollars, except per share data) June 28,2019 March 29,2019 June 29,2018 Net income Diluted EPS Net income Diluted EPS Net income Diluted EPS GAAP measures 32,957 0.88 28,635 0.76 22,768 0.60 Items reconciling GAAP n
Slide 15: Revenue Mix
Revenue Mix Type F1Q18 F2Q18 F3Q18 F4Q18 F1Q19 F2Q19 F3Q19 F4Q19 Optical 77% 72% 72% 70% 74% 76% 75% 74% Datacom 39% 40% 36% 35% 36% 32% 27% 28% Telecom 61% 60% 64% 65% 64% 68% 73% 72% Non-Optical 23% 28% 28% 30% 26% 24% 25% 26% Optical and non-optical revenue mix presented as % of total revenue. Da