Jabil: ‘Our approach is working’

The EMS provider has reported is preliminary, unaudited financial results for its second quarter of fiscal year 2019, and so far CEO Mark Mondello likes what he sees. “Quite simply, our approach is working, both in terms of our strategy and operational excellence. This is well-illustrated by our performance in the first half of the fiscal year,” he says in a press release. The company recorded net revenues of USD 6.1 billion during its second quarter 2019 compared to USD 5.3 billion for the same period last year. 2Q19 U.S. GAAP operating income amounted to USD 154.0 million, compared to USD 129.5 million for the corresponding period last year. Gross profit for the second quarter of 2019 amounted to USD 454.87 million, up quite a bit from last years USD 397.13 millon. Jabil’s Diversified Manufacturing Services (DMS) however, did show a year-on-year revenue decrease of 7%. But looking at the EMS side the company recorded a year-on-year revenue growth of 33%. During the quarter, Jabil successfully transitioned the first two sites from Johnson & Johnson Medical Devices Companies (JJMDC) as part of the previously announced strategic collaboration between the companies. “I’m honored to welcome our new employees from these outstanding healthcare facilities,” said Mondello. “Our new team members bring forward terrific experience, elevating and expanding Jabil’s capabilities in our healthcare business,” Mondello says.