Jabil closes FY20 on a strong note

During the fourth quarter the EMS provider recorded revenues of USD 7.3 billion, quite the increase from USD 6.5 billion during the same quarter last year. Jabil’s Diversified Manufacturing Services recorded a YoY revenue growth of 17%, while it’s EMS segment showed a YoY growth of 8%. “Over the past several years, we’ve strategically positioned Jabil in attractive end-markets, while building the most desired products and serving the world’s most successful brands. At the same time, we’ve streamlined the organization, creating a more optimized cost structure. These collective efforts allowed us to beat expectations in the fourth quarter, despite the various complexities brought about by the global pandemic,” say Mark Mondello. Operating income during the last quarter of the fiscal year ended up at USD 197.1 million, compared with USD 189.7 million during the same period last year. Net income amounted to USD 68.9 million, compared with USD 53.7 million during the forth quarter 2019. “As we exit FY20 and look ahead, I am excited with the momentum underway in our business,” said CFO Mike Dastoor. “Several of our key businesses remain especially strong including Mobility, Healthcare and Cloud. At the same time, we’re permanently transitioning certain components we procure in our EMS segment from the current purchase-and-resale model to a consignment service model.”