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© jabil Electronics Production | December 19, 2016

Mark Mondello: 'I'm really pleased with our strong first quarter results'

EMS provider Jabil Circuit has released its preliminary, unaudited financial results for its first quarter of fiscal year 2017, which show 1Q net revenues of USD 5.1 billion – on parr with 1Q16.
Net revenues for the quarter amounted to USD 5.1 billion, slight down from USD 5.2 during the first quarter the previous fiscal year.

"I'm really pleased with our strong first quarter results," said CEO Mark Mondello. "In particular, we saw strength in our healthcare, packaging and consumer lifestyles businesses within our DMS segment, combined with yet another solid quarter of execution from our EMS segment, allowing us to deliver excellent results," he added.

First quarter gross profit ended up at USD 431.5 million for fiscal year 2017 – down from USD 483.5 million during the corresponding period last year.

Operating income for the first quarter of 2017 amounted to USD 165.6 million, compared to USD 214.5 million during 1Q16. Net income ended up at USD 86.7 million during the quarter, compared to USD 131.9 million during the same quarter last fiscal year.

"Looking ahead, we'll remain focused on our multi-year financial objectives and longer-term enterprise goals, while following through on our commitment to return capital to shareholders, as previously communicated under our two-year capital allocation framework," added Mondello.

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