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Electronics Production | September 23, 2004

Jabil reports increased profit

Revenue for the fourth fiscal quarter of 2004 increased 25 percent to $1.6 billion compared to $1.3 billion for the same period of fiscal 2003.
Under accounting principles generally accepted in the United States of America (“GAAP”), net income for the fourth quarter of fiscal 2004 increased to $44.3 million as compared to $20.1 million for the same period in fiscal 2003. GAAP diluted earnings per share for the fourth quarter of fiscal 2004 were $0.22 compared to $0.10 for the same period of fiscal 2003.

Jabil's fourth quarter of fiscal 2004 core earnings increased 32 percent to $54.7 million, compared to $41.4 million for the fourth quarter of fiscal 2003. Core earnings per share increased 35 percent to $0.27 per diluted share for the period, compared to $0.20 for the fourth quarter of fiscal 2003. Gross profit for the fourth quarter of fiscal 2004 increased 14 percent to $137.7 million or 8.5 percent of revenue compared to $120.4 million or 9.3 percent of revenue for the same period of fiscal 2003.

On a GAAP basis, operating income for the fourth quarter of fiscal 2004 increased to $56.9 million compared to $27.4 million for the same period of fiscal 2003. Core operating income for the fourth quarter of fiscal 2004 increased 28 percent to $67.7 million or 4.2 percent of revenue compared to $52.8 million or 4.1 percent of revenue for the fourth quarter of fiscal 2003.

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