FN - Earnings call transcript Q2 2025

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Operator

Good afternoon. Welcome to Fabrinet's Financial Results Conference Call for the Second Quarter of Fiscal Year 2025. [Operator Instructions].

As a reminder, today's call is being recorded.

I would now like to turn the call over to your host, Garo Toomajanian, Vice President of Investor Relations.

Garo Toomajanian

good and operator, you, afternoon, everyone. Thank XX, for discuss Fabrinet's you quarter fiscal ended joining for us to call of December which XXXX, conference today's year financial second on the Thank XXXX. and results operating With Executive Chief and Chief Seamus Officer; the me Csaba call on Officer. are Grady, today Financial Sverha, webcast, a will our investor.fabrinet.com. be located call website on the This at and is available being of replay Investors section

GAAP our and the During for non-GAAP reconciliation measures. GAAP details this present revenue additional call, our to of we to of as Please and which breakdown. including Investors information, both section release investor website will important refer non-GAAP press include well our financial earnings as presentation, our

the company. today's discussion contain addition, about will of the statements In performance forward-looking future financial

and reflect them to our this only date or required future are could materially presentation undertake events, to by that except and differ as to the obligation of statements cause opinions statements management's revise results subject current These we in information of from law. light risks uncertainties new as of expectations. actual Forward-looking no

the XX-Q description X, affect the recent captioned For particular, our in filings of refer November to a that our factors results, SEC Factors Risk section filed in risk on our please may XXXX.

the time over begin to CEO, with for will Fabrinet's like call and turn by Seamus call the We Grady. questions. remarks now Csaba followed from to I would Seamus Seamus?

Seamus Grady

those thanks you today. and you, our to of Garo. afternoon, Good Thank joining call

an from ago Revenue from of growth for exceeded expectations. Our second million and X% profitability, both was strong quarter quarter a revenue represented momentum and increase and that a business record with QX. the XX% continued our year of $XXX in

well earnings of produce to per executed share non-GAAP team Our $X.XX. record

reflects remarkable ability as in areas gain This deepen this performance, to see the increasing relationships positive with high-growth markets as very our market the are and well demand our existing trends serve to we share. third the of business key quarter. into both customers in we is also extending excited a While further additional

our into are growth we increase quarter, result, extend in revenue strong along confident will a third As that with the profitability. corresponding the

about our and excited capacity near- ample have requirements to -- to our are these trends medium-term customers. to We growth and meet

This growth, XX, with said, month, additional million why a which need over X square foot our facility campus, continued capacity new are will our announce to last term. adding at us plenty to provide the than broke the we pleased capacity footprint. longer our growth new more will anticipated our ground That is Chonburi XX% in of to with total Building on building we support we that future

our our Also $XXX more second Board the for million just share authorized for repurchased and $XXX share of quarter, X/X buybacks. reflecting than repurchases, we our additional authorized million confidence, an during

datacom in quarter X% some a customer of of the X% the bumpiness optical declined within the at but and dynamics products ] communications, at ramp fourth the ahead Looking from experienced major detail, year [ more ago, a of quarter. from grew next-generation

datacom the terabit a the revenue could as begin While quarter, year. we at slight to this remain later will believe that confident improve decrease X.X trends demand we in rate see ramp technologies next-generation calendar datacom third data

from telecom in performed than increased XX% even pleased quarter, the ago revenue see were we better XX% and Meanwhile, to anticipated year sequentially. a

and systems. by strength recent by demand center telecom early increased for Our driven data telecom success primarily was products revenue with interconnect

will quarter. into optimistic positive extend the that trend are this We third

drivers in and a last ago XX% up QX. the several XX% contributing We positive non-optical X% automotive flat of with experienced laser Turning to a quarter. our revenue ahead with from Also from was growth quarter, summary, year confluence roughly in ago year and of industrial growth in ever further and In from momentum business. us, to than performance optimistic healthy the from communications. Datacom telecom, driven another recent our the growth In up quarters, we we anticipate revenue from business faster by we to the beyond. third products. interconnect Collectively, data to coupled we are very growth. expect as are shipments coming look In to confident our for lighting demand center increasing return we more with quarter

turn to fiscal the and Now XXXX. the I'll details Csaba call guidance for quarter second financial more our of Csaba? for our quarter over on third

Csaba Sverha

per and you, share a guidance XX% Revenue second and Non-GAAP was strong on was quarter our ago, above with our from year upside a and gain net Seamus, revenue the our had website. EPS afternoon, breakdown everyone. second and We are ranges. contributing results. Details in in presentation revenue that increase $X.XX revaluation million, of good Thank with from FX the quarter revenue investor of QX. were $XXX X% an income included our to

So I will on of more some focus my the highlights. notable comments

contributors to optical Communications was $XXX a from XX% quarter, million a or of were year customer was an a of Within revenue XX% XX% interconnect from ago increase from very as gig the in communications second was revenue communications gig an Optical a from year communications, and million, year wins. revenue, the next-generation optical DCI By ago, of system transition sequentially. revenue business datacom strong million, in increase X% decline In $XXX X% X% Revenue products X% a was revenue, from revenue Telecom rate, early driven QX. the million, QX, from remarkable optical ago and of ZR products of and and reaching and increase quarter. flat faster XX% $XXX up XXX from $XXX from year but from of million products. products ago up year by total of a XX% major XX% from a XXX from ago growth, QX. or center a revenue XXX XX% for was primarily recent to XX% below applications and growth data contributions products $XXX

year sequentially. X% Each million, from million, Non-optical ago revenue QX. grew and Revenue from $XXX industrial $XXX was laser up a are X% optical year-over-year. automotive, category was revenue XX% [ communications was non-titrated and from over of sequentially and XX% products other that communication up ] up

and the Gross our of compared first to profitability field in P&L, basis, in tailwinds due expense a non-GAAP details discuss anticipated. otherwise headwinds to quarter, on XX.X%, primarily margin was I FX XX.X% QX As quarter turning the the noted. as second unless slight metrics into

of expenses record at was of operating slightly compared QX million, in billion. of and $XX exchange X.X% representing margins. the Operating Interest income quarter. flat an $XX Operating XX.X% tax were sequentially million impact income was with year last both of and the lower line a margin most to revaluation elevated GAAP items. in at foreign in a gross XX.X% to the discrete rate ago quarter contributed was $X due quarter our of Effective $XX gain million,

our to share $X.XX quarterly continue digits above rate which tax the was million per effect year. record. range Non-GAAP We $XX and mid-single the for effective was a diluted in net or on guidance fiscal income

and flow second of $XX $XX quarter flow Turning from of balance million, was OpEx sheet. in $XX quarter of million the in to strong first up the the quarter. end We short-term $XXX million. second free the million, cash in the resulting cash at investments cash ended quarter. was $XXX million the with Operating

which considerably plan As in Seamus our mentioned, new Chonburi, manufacturing recently increase our building program will we capacity. on

the As several next a outlay to a quarters. we expect result, incur CapEx over higher

of in to we Turning that buybacks. increased our million. size $XXX to share repurchase program August the share Recall

we and million. active shares of cash quarter, per average second XXX,XXX the a outlay total share $XX acquired at in During very price were the $XXX an for program of

million had of at As second end the $XXX authorization. we the a remaining quarter, our repurchase result, under

authorized Board a confidence week, additional for As million repurchases. in of sign business, our share continued an last $XXX our

Now our guidance I will the turn fiscal third XXXX. quarter to year for of

be our outlook. in beyond, highlighted, and this and reflected James in QX As optimistic have is reasons we several our business about to

anticipate third we expect datacom the major and sequentially products. For be product million. to coming ramp slightly from $XXX down area, total in revenue in revenue anticipation be the to $XXX By next-generation quarter, of between quarters million we

sequential DCI means new revenue QX increasing in momentum contributions. the larger expect growth as We see telecom strong and again system make to

expect also to to automotive grow continue We revenue sequentially.

leverage. to be to in third again ] much diluted $X.XX margin the persist share. third we but believe $X.XX gross in operating quarter on the [ that we EPS pressure of FX continued per Therefore, quarter, to expect offset with between impact We can anticipate

to trends. We positive beyond. a the after company business quarter quarter, optimistic strong summary, very several the we another quarter of for in continues and QX represent second continue very about be will our we In believe from third business as strong benefit momentum revenue record our as

the we are open now ready call for to Operator, questions.

Operator

Instructions]. [Operator

Ackerman Our the from or first line BNP from comment question of comes Karl Paribas.

Karl Ackerman

ago outlook? now you're ] I X I about When a implied coherent first that system guess, a because For should this but recovery. $XXX end I fell [ in seeing my just of that large wins Telecom for telecom hoping is a trough that year, in be market record March flowing and fraction appear quarter we to discuss to $XXX your quarter in revenue million was into telecom? business ZR second. X years of expect to to see from asked results your do modules support million last June question,

tailwinds. got acting things you've several So as

talk telecom segment? that can about you we and should visibility you within see the in see if revenue So when

Seamus Grady

Thanks, Karl. Yes.

our we The telecom our as the say, as yes, nice have quarters was at revenue several inventory. the telecom is down whole digested to revenue was the last is flat, So business datacom growing the in moment. you're the revenue countercyclicality when nicely for right industry our thing

strength. little ZR we of wait wins our and telecom DCI new to back product So of a launch in products was And and revenue are strength flat mixture bit a our that is the drivers revenue primarily and as new datacom products. for program

that expect continue. we trend So to

the system not majority the the Some competitors an we to a FY about to from [ our are system actually are story from one 'XX perspective results is in talked took show yet. away is we in business in new beginning of other win our the more beginning of just The previously the numbers, these ramp. wins of where and of CNN system really revenue wins ] but

to in see, just datacom us, just yes, to and business inventory gets for speculate. we say offsetting the -- next to where wouldn't were the I is it's the to expect really several digestion, they needed So like I customers good to telecom being before continue as the strength that strong say, when that be at in very focused really back telecom what we're for happy strength to we business it very on softness need. we quarters, But hard And but telecom in exactly when datacom, getting soft. we're the where

Karl Ackerman

it is approaching photonics, silicon transceivers is Yes. within coherent a growth the for is have other If the applications? silicon now growth data center? in inside record I Or from telecom business levels I photonics guess incremental well. mainly high-speed the follow-up, your may coming ZR and DCI as

Seamus Grady

That's growth. at our for ZR a we centers. That's silicon latter driver We've the coherent this early the silicon data photonics. products decade photonics of very for silicon between And mainly were been photonics adopter a the transceivers transceivers DCI stage. building of for applications main

in silicon the strong feel packaged a optics primarily in for one by growth position DCI also and natural really we're to yes, photonics driven products. ZR silicon we it's to as But coherent -- fairly more photonics is moves a from So the us, other. that towards industry transition go that

Operator

to the line or from Chatterjee of JPMorgan. question next comment comes Samik Our

Samik Chatterjee

visibility the terms about the strong as And to You're of you I I what's private ramping of mean, for in here driving confidence timing? a customer Seamus, datacom in you've product. referenced sort well. in that have that moderation guiding here. next-generation you XQ in have talked think you a the next-generation product

towards year? expecting that end has conclude also we XQ that pretty product? So the timing the of intact is ramp have sort ramps generation the next in of ramps, the from And just product of when that follow-up. customer terms it of timing starting were should terms the has next Or the to changed? Then product I still in that you a in

Seamus Grady

X the their We're on quarter just see to before to ready, and go prepared rush timing our customers. wants We next and our from really to the really customer ramp would schedule. product ship to product depends the expect customer looking about to customers' we're a I we're a capacity timing. ready Yes, of generation think perspective

the terms So change launch. to the than schedule working customer no in of other big we're

visibility We same we've of instead have good the had. visibility

of the the component when really well optimistic. to we're and a not customer We're ready We question concerned. beyond visibility we're quite is lead ready It's have sure times, to just making go. go

ramp we're product and So ready go ready whenever to to the launches.

Samik Chatterjee

product cycle or of initially is to And through products, from ramping it. terms you that to have as these of of when particularly Got volumes you sort the were Okay. and volumes volume, initially next-generation ramp well price as that related how if the you even it you're on the what compare and customer, XXX,XXX does compare? capability to the sort expected currently pricing in the

Seamus Grady

I the going, gets volume, I I of That's that -- I take business. it will if think be volume, in in think part once steep all, terms a pretty of it unusual our first not of think ramp.

ready for we're that. So

continually ASPs, our prices of customers. terms costs that. There's In we our nothing and therefore, to about reduce our

the I with cost sure anything, competitive. to think delay refocus launching product us if has on cost customer and maybe and the end we're the make allowed very

say, double might uplift launches relative gig. when that let's to expect won't We're happen the the competitive. the costs as ready to XXX to yet, when of volumes just X.X very I we're as you we're go. optimistic. is, working but be make sure an we go be say, wherever to And the product the It So hard Like speed. competitive, we'd we're cost ready traditionally are customer very much

We be of question a timing. or anything to It's We're quite have optimistic. reason like just pessimistic that. no

Operator

next of the from Jefferies. question George from Our Notter comment comes line or

George Notter

was customers is a I'm coming been the I an concerned if share? the ask your Fabrinet something to seeing has incremental for give was time. conversations? of wondering question Obviously, you're been opportunity guys some for day, associated opportunity which sense in take you from think, it's for going the the now, guess are I about tariffs in you seeing I industry kind with of what place us Can to this tariffs.

Seamus Grady

least, any close tariffs haven't factories we're China. on keeping eye imposed at a we where are based being Yes, George. Hi, that on so seen in our located, far

tariffs, if in customers you with we it a Mexico China. anything, if production impact. the of like, sell lot negative chain to you're in impact -- move still supply So potential recent of in of expect we is it don't expect industry, a the maybe positive some If any all want most and is our

happy So move we're if our to direction. to quite they work in the with customers want production

actually to talk the anything, it of just which I'll if It's If it's very us anything, we macroeconomic leave win to leaving people kind impact, we a a we as bit. don't to no... of ability think the our it demand than business, could But say little see and to So tariffs But tariffs headwind. in see days. about. the smarter aside terms need hard help early

George Notter

when stickiness manufacturing about Like or Got there moving it. And what's I terms is time think if is part of away, another. lead one of you country help quarters benefit, think years that a month how is to one that is that there away? could reasonable away, from the geography in it you? some Is do

Seamus Grady

Pretty the I to it's hard answer George. to like say. to very hard say, don't not question, but

or at decide quarters, that point an there in months say because benefit ways sometimes a companies the if reduce materialized are or though. it's find excited to I think probably to think I whatever. But cost think they it where it customers I too other about opportunity. they this, put because wouldn't I I if get is hasn't benefit. it won't

but think than an years. complex, opportunity. it's it's months Yes, are I'd move. I products more to the tend But quarters and we probably say

very move complex products being We to have able record track of quickly. a very

them, if we to can ready move customers want move to quickly. So there support very

Operator

comes of from line Koontz, Koontz line Needham. question is next your open. Our Ryan Mr. from the

Ryan Koontz

here 'XX? your yet over the momentum you transition Or you're ZR Seamus, in and wonder dominant of much customers force ZR seeing are contemplating with if contemplating yet? XXX XXX I are as really your or in DCI, a

Seamus Grady

So F revenue or yes, XX% of QX all, revenue. XX% QX, was of F was first XXX in ZR and more of ZR our in XXX optical so and total QX, our

very a category. it's you So like, if important,

do increase you represents $XX the If a math, about sequential XX% that to million.

in ZR remain to So very important expect the XXX very, ZR quarters. us. We coming strong do is for

some actually but qualified the I [ as qual actually ZR well. ZR But XX XXX and think we days, well. have ZR schedule for is shipped We XXX have and as have ] shipped

Ryan Koontz

And you will XXX, the primarily at lumpiness or Got there? as Is a it. relates Great. side. your more datacom speed some about datacom think the will that high bit that to expectations, see talked on do more little you suffer here anything your you lower share it down, end can slow think you

Seamus Grady

Yes.

the our would roughly softer little So similarly revenue, datacom business we we we're than about talked what then indicated see And we're datacom QX. that datacom low-speed product about, concerned about I don't very above. be say in gig overall those near-term a When out optimistic have much flat would provided we most that we'll business. bit products. It's our additional higher-speed overall. Again, we is and XXX datacom And things is softness but at anticipated. means overly turned it transition nothing guidance,

We revenue all the us we other drivers strong contributed ramps continue have increasing QX. anticipate X.X makes to to optimistic benefit we we'll which as and In and the products those term, softness. to in terabit the several is, next-generation near-term some longer in continue that our growth have over meantime, demand from QX, customer

leading-edge digestion up, often is little And and datacom talk but the the products, here higher-speed But and part but our with Interestingly, several seems at is overall of the our telecompanies for a business flat, datacom if older business the we've quarters, of what that mix our our business. strong. is when moment, our when that's really strong. was more through our you bit very our products. inventory business going countercyclicality Historically, business. on is at not business one been That about -- in it the other datacom look telecom we've we part down seeing is been

Ryan Koontz

one months, the could What's your CapEx between sense. bring I when Are Makes online. and the frame rough last if could it. talking around. capacity And Got time quarters? just you you

Csaba Sverha

are talking if of XX months. XX, about time the Building our lead Ryan, you about is that

we see terms linear outlay will CapEx. So a of cash in

spend So uplift let's the about next, in to you CapEx million probably $XX quarters. out say, cash in will see and X X

Seamus Grady

some And foot adding, revenue. that about terms per just in annual of general capacity maybe, we Ryan, datacom, the just we're Building around square $X,XXX context in generate to put revenue XX

So million X foot square Building facility. be XX will a

it's So capacity we're $X.X about investing addition in. a billion that

the billion. mix will adding the about So on that obviously, the $X.X that's but actual revenue of products, ballpark is we're depend capacity

Operator

the of Wang George or Barclays. next comment from comes line Our from question

Dong Wang

quick X Just ones.

The I X.XT ramp. want first one, to just me on kind of hold

which Just maybe kind you adoption kind of seeing or B-XXX for delay of impediments kind of still there as other waiting quo customer the maybe some solving are transition unpack year? wider And on status versus of later quarter. XXXG you this until guys guys also kind for Are waiting your for ballpark? doesn't such probably the kind the you transition of kind as chain of last X.XT out cards, the network largest this of underlying just is datacom from arrive the aside supply kind the other constraints called interface of later -- of further -- on full year. the Can potential

Seamus Grady

Yes.

that, of of a in question producing interface wider customer be to a we're that the better of launch. of. things customer. we'll ready is, on our other talked particular sample as our qualification knowledge timing go parts supply of questions been point not X.XT cards chain Again, question position directed It's also it's earlier. more to where around and a just It's whenever we're and mostly the wider to waiting like but have the the for any to think we about something builds I net don't better directed We've that about really we product question that's to probably the really a not because I questions network, customer. about talk just know, the and

Dong Wang

Okay. I one, if And quick just can. a

bigger early you think as view XX% 'XX going of kind be Any of recognizing Is -- it Sienna there the in it of terms called a in a quarters, much Sienna, sort can run to is thoughts business, customer rate? of in of out. Cisco FY Just kind of of any revenue terms of fee terms in refresh of it's surpass you obviously, next mean, the sort anticipate few I days. lead do the customer? prospects guys

additional Just curious on you that? thoughts if have

Seamus Grady

Yes.

recent So we've had some a wins. the system couple of of

One of that new quarters. product the that year. a in talked about Sienna Sienna we new our It's networking introducing is products this

the think said Sienna I and we time the when ramp at XXXX be into will that we the bulk early continue XXXX. of fiscal expect late in to

at view. of we'll 'XX of comment don't the we end we fiscal a customers' of on into The story that the plans. it's rate and on. customer So is individual Sienna, customers' revenue, But ramping, revenue with ramp really the don't outside customer of we -- revenue point in other now. And for we forecast customer, the be run becomes comment the year than a that, the revenue. from more of course, don't disclosed revenue We if comment at FY on line wouldn't certainly

So afraid you information can't lot a whole I George. there, more give I'm

Operator

question next Our comment from Tim Markets. Savageaux line the Northland from of comes or Capital

Timothy Savageaux

come here. Congrats and results and that direction. can try on Maybe at the another from I outlook

clear within impact. look or major that with this the about anything the the million the growth center interconnect So if ramp telecom piece that to broader sequential customer with about you're new regard ZR pretty discuss you quarter, is other first you've fair been recovering? in to program landscape question, conclude $XX telecom the that data the talking at of to

Seamus Grady

away one ZR that before that the that named The from we customer it's really really our of Sienna the the primarily numbers of had early hasn't competitors. we of win competitive in a beginning, of not yet. little business, business took yet new win a bit where yes, days So and we program the another share the is started ramp also

to and that we because spoken this DCI. we've took the was of of use So the We -- of that combination win opportunity inventory telecom and a flat digestion, when ramp-up opportunity really about business. the it's competitive to ZR business other go system win the took plus

fruits So beginning to now. see that the of

Timothy Savageaux

little this has do Csaba expect fiscal about of ramp, you makes times, And to in in that opens QX. begin I and a business up you 'XX. just QX that easier. strength a Sienna discussion as in the Well, fiscal think said And Seamus, couple beyond, fairly Okay. no, a question that referred to

quarter So sum looking I in heading typically fair guess quarter seasonally looks June like June got But the bit strong at pretty you've of into of total the anyway. a it regardless that momentum of assessment whether on that, that you're free comment that you up see to imagine well. then, just overall you X.XT which start as ramp I And to on but feel might your there. set

Seamus Grady

have right, said I Tim. myself. exactly You're it better couldn't

part business, number has of So we into a for headwind there. back the of the vectors growth ZR -- now the business tailwind in turned a telecom have figured our been continues then, longest which competitors. a time, network with numbers has away the our to course, taken one yet. hasn't grow of nicely. we've system of The Sienna of products And from wind really existing new share in that wins our that

on. anything then very We the very, until announce don't there's industry there's was announce, still earlier, when working we others Like win hard working And very time generally telecom we've that trying alluded wins system said, to also on. we're to And working we're there's business something that. during flat. but at I that we've to the hard busy other been been

from those as start the well, products ramp headwind. around turning all being same datacom next-generation is to yes, should well. time, And going a telecom, So

half So of year. coupled the optimistic some you share announcement indication of we're new around I the should into quite with going give that increased the and second that. back, factory the the think,

Timothy Savageaux

wouldn't I the rank I And be last much willing of to guess, the maybe not, one would opportunities. systems comment a new guide. Sienna but magnitude, assumption if you're see of larger, assume that It And be -- my larger to to the that. would question size briefly. on would relative order to repeating the for I'm me. real is quick Absolutely. missed well, nonoptical mind trying I

Seamus Grady

Yes.

They're I be with let we're ready you've the But companies to I part to the think resolved fantastic moment. and about them. that. in And that think, with business guide we're fantastic happy ramping, our I'll just to really we're looking excited nonoptical Csaba, of support honored -- customer Sienna a very that. forward win, very a so We're side chain. yes,

also it it Sienna because it's new if we're But we've doesn't wins It's one business away. the product does a ramp when okay, longer it straight then, other had. ramp lengths. excited new But about the is

we to cycle, love I the We get have which to because the all. don't quick I tell that overall. life Mahindra of a product But ramping life where like to we're it's ones, you we're middle it win happy the if so revenue. run at prefer it But some wouldn't of it the the try very them product, of you trying infusion you're and like full business. the for and try the you get get of great rank other if them. ramping It's in

Csaba Sverha

be up up be With flat guidance, it as of sequentially regards are the then out well. and to to to anticipating we to lasers slight

than temporary the softness we the other QX going across board, in datacom. upside So into seeing are

Operator

from comment from Our question of the Securities. Genovese Rosenblatt Mike next line comes

Michael Genovese

I mean times just of probably to already. I a a been couple clarify something asked new won't that's answer. get

So again whether on that a September? to have just it June too sense tell? other, the would do versus September, grow you in we mean, or I so June Is might way one Or sequentially. when happen or datacom early see

Seamus Grady

Mike. Well, I time, one guide at a we quarter mean,

a one we're time. now, right quarter at So guiding

go going that. beyond not to So we're really

and products when think sometimes much don't We your with quicker new sense a But they of launch as hard to sometimes will new over exactly they expectations have the ramp. products begin the years, we've way they we line launch in learned will. than the

wouldn't start it's or But to to get support this I but from just customer June the really they're want of we're So to ready view, this, days. the ramping ready point at our whenever into early product, September point.

Michael Genovese

Or then the showing? guys of are And -- X just you there. overall XXXG you think I have you again, better Or have than But about your is maybe a view any like Do market? think mean, obviously, customer that what on the probably, doing you do do that? representative have the you don't guess results market. I you are you market overall idea

Seamus Grady

I don't need go what really. just We us. from customers the with

XXX let's you players if XXX think there's center I several data gig, there. look say, at gig,

within -- design the of customers' there. as we're supplier manufacturer merchant one let's we're other a our suppliers only producing say, Now country their

the don't we to overall. visibility So have

If products. you in includes, gig telecom also and our look XXX that numbers, at above course, number of overall our

it's because, So of all don't all industry really the the of have overall products. have mixed think we're representative a who bag. course, I the necessarily we customers don't don't

Michael Genovese

if then me, EML I hard And X.X? that more or even final timing to having Okay. just size impact X seeing per sneak XXXG can being or either XXXG any plan with particularly on XXXG you get. anything EML, the Is lane of Are market in. the for the

Seamus Grady

EMLs. not think to secret. Yes, world hard very I They're it's more guess. a needs The

one So yes, fairly components short of the they're in that's supply.

Michael Genovese

Okay. could. ask more, I if would one I

the lot guys there weren't in have long of a I the of ready Look, yet. As XXXG, as merchant beginning you.

X.X sort of to think share? see Or time a could you you some to X.X, town, town. the because lot opportunity line. of as [ So in same on had you share the guys that But time play for in game develop Sienna were I do to do guess the an only of more start XXXG gain was only how everyone out? a gain has player ] almost

Seamus Grady

say. to hard It's

think I a with was we merchant a time some gig, products little until suppliers were new, around. bit demand. caught period application and up the time think XXX -- the you the the where source I for it's probably sole I of really for mean, this of different

Everyone different. time assume are this around well. the industry, real is merchant X.X guys and working knows with to very I plus their the the very is I all as demand would offering think the hard ready rollout get

more On XXX assume, the we days number of of source the reasons the amount total one was the the gig, and the reducing in I do sole think network. variables of -- to the were just, I with complexity early in

be the in to case. the soon think would I I supply probably the I are fairly that'll ready chain still that's quickly. merchant But go, as suppliers assume think as

things go. but I is go, your So on supply it to to of everyone think ready customers -- X.X call. more delay launching with one to is The of good ready that base the perspective, one is our the about ready the depends

supply see quickly. more this should think pretty I So ramp overall

Operator

sure conference I'm like in additional turn Mr. to remarks. queue I'd any for at questions the the to closing time. this no over back Grady

Seamus Grady

today. Thank EPS company. to We're results for and that our excited revenue quarter call again exceeded produce the you guidance joining for our record our second

and We those be look Goodbye. later continue our to this beyond. with future about to our Susquehanna of forward and virtual the We third in several will growth you month. the tailwinds again speaking optimistic with seeing you be quarter conference to very driving who attending

Operator

conference. for in the you thank today's participating gentlemen, and Ladies This concludes program.

a may Everyone, have day. wonderful disconnect. You now

Fabrinet (FN) 3 Feb 252025 Q2 Earnings call transcript