• The company is diversifying revenue sources based on its capabilities, a sensible approach.
• Telecom revenue was up significantly for the quarter, and there are another couple of businesses that are performing well, but datacom is suffering from price erosion.
• The company has accelerated its cash flow generation and we are quite impressed with that, so we think there is upside in the shares still.

Source: Fabrinet’s Cash Flow Bonanza Is Underappreciated – Fabrinet (NYSE:FN) | Seeking Alpha