Ad
Ad
Electronics Production | March 23, 2011

Jabil with solid fiscal 2Q results

"We are pleased with the results for the 2Q and 1H of fiscal 2011. Year over year revenue growth in the 2Q and for 1H/2011 exceeded 30%. We believe this underscores our ability to deliver sustainable long-term growth said Timothy L. Main, President and CEO of Jabil.
Second Quarter 2011

Net revenue for the second quarter of fiscal 2011 (ended February 28, 2011) was USD 3.9 billion compared to USD 3.0 billion for the same period of fiscal 2010.

GAAP operating income for the second quarter of fiscal 2011 was USD 104.6 million compared to USD 61.8 million for the same period of fiscal 2010. GAAP net income for the second quarter of fiscal 2011 was USD 55.4 million compared to USD 29.8 million for the same period of fiscal 2010.

Core operating income for the second quarter of fiscal 2011 was USD 168.4 million or 4.3% of net revenue compared to USD 95.6 million or 3.2% of net revenue for the same period of fiscal 2010. Core earnings for the second quarter of fiscal 2011 were USD 118.8 million compared to USD 63.3 million for the same period of fiscal 2010.

Business Update

"Our employees and site in Gotemba, Japan were not directly impacted by the natural disaster. However, many of our employees as well as suppliers were impacted. We extend our heartfelt condolences to those who have suffered losses as a result of this tragedy," said Mr Main.

Revenue from Jabil's Gotemba site is not material to overall results.

The natural disaster in Japan may have an impact on the supply of components to Jabil's global manufacturing operations. However, the extent of this impact is not known at this time. Therefore, Jabil is expressing expectations regarding its third quarter results excluding the impact of potential supply disruptions on these results.

These expectations include the recently acquired sites in Italy and France on a fully consolidated basis.

Jabil management indicated that it expects net revenue for its third quarter of fiscal 2011 to range from USD 4.1-4.2 billion.

Jabil estimated that its core operating income for its third quarter of fiscal 2011 will range from USD 175-185 million or 4.3-4.4% of net revenue.

"Jabil's prospects for sustainable long-term growth are excellent as we continue to focus on delivering superior value to our customers," said Mr Main.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
September 15 2017 9:25 AM V8.7.1-2