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© bdriver dreamstime.com Electronics Production | September 25, 2014

Jabil promised growth on Apple sales

EMS-provider Jabil reported a net loss of USD 26.2 million in fiscal 4Q (ended Aug. 31, 2014) compared with a profit of USD 127 million a year earlier. However, Jabil forecasts a positive first quarter on strong iPhone sales.
EMS-provider Jabil Circuit reported fourth quarter revenue of USD 4.1 billion and fiscal year revenue of USD USD 15.8 billion (both ending August 31, 2014).

"We saw strength from a variety of our end-markets in our fiscal fourth quarter and are pleased with the momentum of the business as we head into Fiscal 2015," said Jabil's Chief Executive Officer, Mark Mondello.

Jabil's reporting segments delivered the following revenue results for the company's fourth fiscal quarter:
  • Diversified Manufacturing Services: USD 1.8 billion.
  • Enterprise & Infrastructure: USD 1.4 billion.
  • High Velocity Systems: USD 0.9 billion.

Generally accepted accounting principles (GAAP) operating income for the fourth quarter of fiscal year 2014 was USD 46.6 million and GAAP net diluted loss per share was ($0.13) for the fourth quarter. The company indicated that USD 19.7 million in restructuring activity impacted the fourth quarter GAAP operating income.

GAAP operating income for the full fiscal year, ended August 31, 2014, was USD 204.1 million. GAAP net diluted earnings per share was USD 1.19 for the fiscal year. The company indicated that USD 85.4 million in restructuring costs during the year negatively impacted GAAP operating income and that USD 223.3 million in gain on sale of discontinued operations, net of tax positively impacted the fiscal year GAAP net income.

"Fiscal 2014 was a challenging year in which we made several tough, but thoughtful, decisions and investments. We believe these investments will support future growth opportunities for Jabil," said Mark Mondello, Chief Executive Officer. "We remain confident in our ability to deliver core earnings per share in the range of USD 1.65 to USD 1.95 in fiscal 2015," Mondello added.

The company forecasts a positive first quarter due to strong iPhone sales. The company's forecast for its Diversified Manufacturing Services business - which manufactures casings for the iPhone - was set to increase 6 percent. The Electronics Manufacturing Services business is to decline 5 percent.

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