Jabil achieved growth through a combination of market share gains, new customer wins and new production from its existing customer base. Management indicated that their success rate allowed them to grow their Diversified Manufacturing Services business 43% in fiscal 2011, well above the long-term growth target of 20-30% per year. Performance in Enterprise & Infrastructure and High Velocity business areas were also above long-term growth targets, posting revenue growth of 18% and 11%, respectively.

"In addition to progress against our long-term objectives, we generated significantly higher cash flow in fiscal 2011, enabling the return of USD 262 million in capital to shareholders via our dividend and share-repurchase program," said Mr Main. Jabil generated USD 828 million in cash flow from operations over the course of the year. Business expansion combined with a focus on lean manufacturing principles and capital efficiency continue to be areas of emphasis for the company.

"Posting a record quarter and fiscal year in the present environment is remarkable," said Timothy L. Main, President and CEO of Jabil. "Demand for our expertise in managing global supply chain networks remains robust, especially now as customers increasingly focus on growth in developing economies."

Fiscal 2011 Highlights

- Revenue from Diversified Manufacturing Services flourished by 43% over fiscal 2010. (Specialized Services revenue improved 76% from fiscal 2010 / Healthcare & Instrumentation revenue increased 31% from fiscal 2010 / Industrial & Clean Tech revenue grew 19% from fiscal 2010)

- Enterprise & Infrastructure revenue increased by 18% over fiscal 2010.

- High Velocity revenue expanded 11% over fiscal 2010.

- Lean manufacturing savings increased approximately 400%.

- Generated USD 828 million in cash flow from operations during the fiscal year

- Return on invested capital of 26%

- Return on equity of 24%

© Jabil

Business Update

"While macroeconomic conditions remain uncertain, our expectation for continuing growth underscores our belief in the benefit of diversification and the sustained demand for our services," said Jabil CEO Timothy Main. "Customers are most concerned with driving higher levels of performance from their supply chain networks. We intend to drive superior levels of customer loyalty by giving them peerless performance throughout our organization."

© Jabil

(GAAP earnings per share for the first quarter of fiscal 2012 are currently estimated to include $0.02 per share for amortization of intangibles and $0.08 per share for stock-based compensation).