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Electronics Production | December 21, 2010

Jabil posts fast start to Fiscal 2011

"We believe our results for the first quarter represent an excellent start to fiscal 2011. Revenue growth was accompanied by margin improvement and a passionate dedication to customer service across our business segments", said Timothy L. Main, President and CEO of Jabil.
Net revenue for the first quarter of fiscal 2011 was USD 4.1 billion compared to USD 3.1 billion for the same period of fiscal 2010.

GAAP operating income for the first quarter of fiscal 2011 was USD 156.0 million compared to USD 66.3 million for the same period of fiscal 2010. GAAP net income for the first quarter of fiscal 2011 was USD 106.7 million compared to USD 28.3 million for the same period of fiscal 2010.

"We believe our focus on diversification and a differentiated business model will allow us to continue growth throughout 2011," said Timothy L. Main, Jabil's President and CEO. Main said, "We see good momentum in our three business segments as we continue on a record setting pace for fiscal 2011."

Jabil management indicated that it expects net revenue for its second quarter of fiscal 2011 to range from USD 3.85 - 3.95 billion. Jabil estimated that its core operating income for its second quarter of fiscal 2011 will range from USD 160 - 170 million or 4.1 - 4.3% of net revenue.

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