10-Q Filing

FABRINET CIK: 1408710 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-398478`
Period End Date	20140930
Filing Date	20141105
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	fn-20140926.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 37 Cash Flow Statement 63

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred shares, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred shares, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$163.86M	USD	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$233.48M	USD	Point-in-time
Preferred shares, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$244.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.72M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$107.94M	USD	Point-in-time
Preferred shares, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$101.17M	USD	Point-in-time
Ordinary shares, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Ordinary shares, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$128.67M	USD	Point-in-time
Inventory, net	`InventoryNet`	$124.57M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.64M	USD	Point-in-time
Ordinary shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Ordinary shares, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$1.56M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.64M	USD	Point-in-time
Ordinary shares, shares issued	`CommonStockSharesIssued`	35.15M	shares	Point-in-time
Ordinary shares, shares issued	`CommonStockSharesIssued`	35.32M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.69M	USD	Point-in-time
Ordinary shares, shares outstanding	`CommonStockSharesOutstanding`	35.15M	shares	Point-in-time
Ordinary shares, shares outstanding	`CommonStockSharesOutstanding`	35.32M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.47M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$464.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$487.05M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$98.06M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$97.24M	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$72.00K	USD	Point-in-time
Intangibles, net	`FiniteLivedIntangibleAssetsNet`	$51.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.77M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$1.77M	USD	Point-in-time
Deferred debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$989.00K	USD	Point-in-time
Deferred debt issuance costs	`DeferredFinanceCostsNoncurrentNet`	$2.56M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$100.08M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$102.44M	USD	Point-in-time
Total assets	`Assets`	$589.49M	USD	Point-in-time
Total assets	`Assets`	$564.56M	USD	Point-in-time
Long-term loans from bank, current portion	`LoansPayableToBankCurrent`	$6.00M	USD	Point-in-time
Long-term loans from bank, current portion	`LoansPayableToBankCurrent`	$6.00M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$101.78M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$94.85M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.02M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.48M	USD	Point-in-time
Accrued payroll, bonus and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$10.92M	USD	Point-in-time
Accrued payroll, bonus and related expenses	`EmployeeRelatedLiabilitiesCurrent`	$8.61M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.24M	USD	Point-in-time
Other payables	`OtherLiabilitiesCurrent`	$8.45M	USD	Point-in-time
Other payables	`OtherLiabilitiesCurrent`	$5.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$120.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$133.87M	USD	Point-in-time
Long-term loans from bank, non-current portion	`LongTermLoansFromBank`	$9.00M	USD	Point-in-time
Long-term loans from bank, non-current portion	`LongTermLoansFromBank`	$10.50M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesGrossNoncurrent`	$1.13M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilitiesGrossNoncurrent`	$1.04M	USD	Point-in-time
Severance liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$4.67M	USD	Point-in-time
Severance liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$4.45M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.10M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.27M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$17.09M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$16.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$149.94M	USD	Point-in-time
Total liabilities	`Liabilities`	$137.72M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of September 26, 2014 and June 27, 2014)	`PreferredStockValue`	-	USD	Point-in-time
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of September 26, 2014 and June 27, 2014)	`PreferredStockValue`	-	USD	Point-in-time
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 35,319,755 shares and 35,152,772 shares issued and outstanding as of September 26, 2014 June 27, 2014, and respectively)	`CommonStockValue`	$352.00K	USD	Point-in-time
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 35,319,755 shares and 35,152,772 shares issued and outstanding as of September 26, 2014 June 27, 2014, and respectively)	`CommonStockValue`	$353.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$82.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$80.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$356.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$345.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$426.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$439.55M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$564.56M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$589.49M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$171.55M	USD	1 Quarter
Revenues	`Revenues`	$189.32M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$168.82M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$152.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.64M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$8.74M	USD	1 Quarter
Income related to flooding, net	`OtherNonrecurringIncomeExpense`	$-6.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.77M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.55M	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$374.00K	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$364.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$133.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$206.00K	USD	1 Quarter
Foreign exchange (loss) gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.09M	USD	1 Quarter
Foreign exchange (loss) gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-106.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$103.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$184.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.98M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.01M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$971.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$781.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.04M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.20M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	-	USD	1 Quarter
Net comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.04M	USD	1 Quarter
Net comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.20M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.55	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.55	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.67M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.23M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.59M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income for the period	`NetIncomeLoss`	$11.04M	USD	1 Quarter
Net income for the period	`NetIncomeLoss`	$19.20M	USD	1 Quarter
Depreciation	`Depreciation`	$2.51M	USD	1 Quarter
Depreciation	`Depreciation`	$2.89M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$28.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$21.00K	USD	1 Quarter
Gain on disposal of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$46.00K	USD	1 Quarter
Income related to flooding	`OtherNonrecurringIncomeExpense`	$-6.60M	USD	1 Quarter
Proceeds from insurers for losses related to flooding	`ProceedsFromInsuranceSettlementOperatingActivities`	$6.60M	USD	1 Quarter
Reversal of allowance for doubtful accounts	`ValuationAllowancesAndReservesPeriodIncreaseDecrease`	$-1.00K	USD	1 Quarter
Reversal of allowance for doubtful accounts	`ValuationAllowancesAndReservesPeriodIncreaseDecrease`	$-53.00K	USD	1 Quarter
Unrealized gain on exchange rate and fair value of derivative	`UnrealizedGainLossOnDerivatives`	$808.00K	USD	1 Quarter
Unrealized gain on exchange rate and fair value of derivative	`UnrealizedGainLossOnDerivatives`	$208.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.87M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.56M	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxesAndTaxCredits`	$438.00K	USD	1 Quarter
Deferred income tax	`DeferredIncomeTaxesAndTaxCredits`	$6.00K	USD	1 Quarter
Other non-cash expenses	`OtherNoncashIncomeExpense`	$-218.00K	USD	1 Quarter
Other non-cash expenses	`OtherNoncashIncomeExpense`	$-387.00K	USD	1 Quarter
Inventory obsolescence	`InventoryWriteDown`	$515.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.35M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.77M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.62M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$5.57M	USD	1 Quarter
Other current assets and non-current assets	`IncreaseDecreaseInOtherOperatingAssets`	$404.00K	USD	1 Quarter
Other current assets and non-current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-60.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$13.19M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$6.93M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$460.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$124.00K	USD	1 Quarter
Other current liabilities and non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$550.00K	USD	1 Quarter
Other current liabilities and non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.77M	USD	1 Quarter
Liabilities to third parties due to flood losses	`IncreaseDecreaseInOtherInsuranceLiabilities`	$-5.96M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$18.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.83M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.25M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.51M	USD	1 Quarter
Proceeds from disposal of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$46.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.46M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.25M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.57M	USD	1 Quarter
Repayment of long-term loans from bank	`RepaymentsOfLongTermDebt`	$1.50M	USD	1 Quarter
Repayment of long-term loans from bank	`RepaymentsOfLongTermDebt`	$2.42M	USD	1 Quarter
Proceeds from issuance of ordinary shares under employee share option plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.00K	USD	1 Quarter
Proceeds from issuance of ordinary shares under employee share option plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$43.00K	USD	1 Quarter
Withholding tax related to net share settlement of restricted share units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$189.00K	USD	1 Quarter
Withholding tax related to net share settlement of restricted share units	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$90.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.26M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.46M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.11M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.42M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$163.86M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$233.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$244.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$149.72M	USD	Point-in-time
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$11.11M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.42M	USD	1 Quarter
Effect of exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$94.00K	USD	1 Quarter
Effect of exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-276.00K	USD	1 Quarter
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$163.86M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$233.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$244.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$149.72M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.