In early U.S. trading on Tuesday, global optical components leader Fabrinet fell 9.82%, despite the company beating fourth-quarter expectations.
The company reported adjusted earnings per share of $2.65, marginally above the $2.64 expected by analysts surveyed by FactSet. Revenue of $909.7 million exceeded the consensus estimate of $883.1 million.
Additionally, the company provided optimistic first-quarter earnings and revenue guidance. Fabrinet shares have gained nearly 49% year-to-date.
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