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Electronics Production | December 20, 2005

Jabil up in first quarter

American EMS Provider Jabil Circuit, Inc. reported the results for the first quarter of fiscal year 2006, ended November 30, 2005. Net revenue increased 31 percent to $2.4 billion compared to $1.8 billion for the same period of fiscal 2005.
Under accounting principles generally accepted in the United States of America (“GAAP”), operating income for the first quarter of fiscal 2006 increased 26 percent to $88.8 million compared to $70.3 million for the same period of fiscal 2005. On a GAAP basis, net income for the first quarter of fiscal 2006 increased 38 percent to $76.9 million compared to $55.9 million for the same period in fiscal 2005. GAAP diluted earnings per share for the first quarter of fiscal 2006 increased 37 percent to $0.37 compared to $0.27 for the same period of fiscal 2005.

Jabil's first quarter of fiscal 2006 core operating income increased 38 percent to $111.8 million or 4.7 percent of net revenue compared to $80.9 million or 4.4 percent of net revenue for the first quarter of fiscal 2005. Core earnings increased 43 percent to $92.8 million compared to $65.0 million for the first quarter of fiscal 2005. Core earnings per share increased 38 percent to $0.44 per diluted share for the period compared to $0.32 for the first quarter of fiscal 2005.

“Fiscal Q1 was an excellent start to what we expect will be another year of robust growth,” said Jabil President and CEO Timothy L. Main. “Demand for Jabil's outsourcing services is very strong and broad based across many industry sectors. Our focus on execution in this high demand environment is resulting in solid financial performance particularly in return on invested capital.”


Click Here to read the full report (www.jabil.com)

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