Electronics Production | June 22, 2004
Jabil presents stronger results
Jabil Circuit, Inc. today reported results for the third quarter of fiscal 2004, ended May 31, 2004. Revenue for the third quarter of fiscal 2004 increased 33 percent to $1.6 billion compared to $1.2 billion for the same period of fiscal 2003.
On a United States Generally Accepted Accounting Principles (“GAAP”) basis, net income for the third quarter of fiscal 2004 increased to $40.1 million compared to $4.5 million for the same period of fiscal 2003. GAAP diluted earnings per share for the third quarter of fiscal 2004 were $0.19 compared to $0.02 for the same period of fiscal 2003. Jabil's third quarter of fiscal 2004 core earnings increased 39 percent to $53.1 million, compared to $38.2 million for the same period of fiscal 2003. “We are posting results which represent solid sequential performance as well as strong year-over-year performance in both revenue and core earnings. Over the past year maintaining efficient control on our capital deployed while greatly increasing our operating earnings, has allowed us to improve Return on Invested Capital to 15 percent,” said Timothy L. Main, President and CEO. “We continue to be gratified by our continued progress towards our long-term goals.”
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