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Electronics Production |

Jabil drew profit from rocky quarter

A drop in revenue, sizeable restructuring costs, a slippery slope downwards, an operating income becoming an operating loss. However, the company still reported a tripled net income.

Jabil's three reporting segments delivered the following revenue results for the company's third fiscal quarter:
  • Diversified Manufacturing Services: USD 1.6 billion.
  • Enterprise & Infrastructure: USD 1.3 billion.
  • High Velocity Systems: USD 0.9 billion.
(GAAP) operating income became an operating loss of USD 1.6 million during the third quarter, compared to an operating income of USD 93.1 million dusring the same quarter last year. The company indicated that USD 12.4 million in restructuring costs during the quarter negatively impacted GAAP operating income and that USD 238.5 million in gain on sale of discontinued operations, net of tax positively impacted GAAP net income. GAAP net income was more than trippled to USD 188.3 million during the quarter, compared to USD 50.1 million during the same period last year. Core operating income was USD 45.3 million during the quarter, compared to USD 158.6 million during the same quarted last year. "Our third fiscal quarter performed largely as planned and is highlighted by a strong balance sheet performance, driven by significant cash flow from operations and a total cash position of USD 1.3 billion," said Forbes Alexander, Chief Financial Officer. "We believe the strength of our balance sheet positions us well as we consider strategic investments in key growth areas in fiscal 2015," he added. ----- Images: © Jabil

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March 28 2024 10:16 am V22.4.20-2
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