Fabrinet Announces Audit Committee Investigation into Accounting Matters; Postpones Fourth Quarter and Fiscal Year 2014 Earnings Release and Conference Call
BANGKOK--(BUSINESS WIRE)--
Fabrinet (NYSE:FN), a leading provider of advanced optical packaging and
precision optical, electro-mechanical and electronic manufacturing
services to original equipment manufacturers of complex products, today
announced that during the fourth quarter of the fiscal year ended June
27, 2014, certain accounting issues were discovered by management, which
prompted the Audit Committee to commence an internal investigation. The
Audit Committee is investigating whether there were any violations of
the Company's accounting policies associated with these potential
accounting matters. The Company has also notified the SEC of the Audit
Committee's investigation.
The Audit Committee has not reached any conclusion because the
investigation is ongoing, and the Company cannot predict the outcome of
the investigation or when it will be completed. The Company is also
currently evaluating whether there may be any deficiencies with the
Company's disclosure controls and procedures and internal control over
financial reporting.
As a result, the Company is postponing its fourth quarter and fiscal
year 2014 earnings release and conference call, which had been scheduled
for August 18, 2014. Fabrinet will announce such results as soon as
practicable following the completion of the Audit Committee's
investigation.
About Fabrinet
Fabrinet is a leading provider of advanced optical packaging and
precision optical, electro-mechanical, and electronic manufacturing
services to original equipment manufacturers of complex products, such
as optical communication components, modules and subsystems, industrial
lasers and sensors. Fabrinet offers a broad range of advanced optical
and electro-mechanical capabilities across the entire manufacturing
process, including process design and engineering, supply chain
management, manufacturing, advanced packaging, integration, final
assembly and test. Fabrinet focuses on production of high complexity
products in any mix and any volume. Fabrinet maintains engineering and
manufacturing resources and facilities in Thailand, the People's
Republic of China and the United States. For more information visit: www.fabrinet.com.
Investors:
Jennifer Predmore, 215-428-1797
ir@fabrinet.com
Source: Fabrinet
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