Jabil reports increased profit

Under accounting principles generally accepted in the United States of America (“GAAP”), net income for the fourth quarter of fiscal 2004 increased to $44.3 million as compared to $20.1 million for the same period in fiscal 2003. GAAP diluted earnings per share for the fourth quarter of fiscal 2004 were $0.22 compared to $0.10 for the same period of fiscal 2003. Jabil's fourth quarter of fiscal 2004 core earnings increased 32 percent to $54.7 million, compared to $41.4 million for the fourth quarter of fiscal 2003. Core earnings per share increased 35 percent to $0.27 per diluted share for the period, compared to $0.20 for the fourth quarter of fiscal 2003. Gross profit for the fourth quarter of fiscal 2004 increased 14 percent to $137.7 million or 8.5 percent of revenue compared to $120.4 million or 9.3 percent of revenue for the same period of fiscal 2003. On a GAAP basis, operating income for the fourth quarter of fiscal 2004 increased to $56.9 million compared to $27.4 million for the same period of fiscal 2003. Core operating income for the fourth quarter of fiscal 2004 increased 28 percent to $67.7 million or 4.2 percent of revenue compared to $52.8 million or 4.1 percent of revenue for the fourth quarter of fiscal 2003.