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Electronics Production | July 02, 2007

$152 million in restructuring costs for Jabil

EMS provider Jabil Circuit will this year record $152 million in restructuring costs and it will go on in the second half of 2007 as well.
Jabil Circuit has gone through some major restructuring activities and that is with significant related costs. The costs include $87.4 million in employee severance and benefit costs, $12.8 million in contract termination costs and other related restructuring costs of $1.6 million. The impairment costs of approximately $58.6 million include valuation allowances against net deferred tax assets of approximately $37.1 million and fixed asset impairment costs of approximately $21.5 million. These amounts were offset by $8.4 million of other income related to proceeds received in the first quarter of fiscal year 2007 in connection with facility closure costs, the company said. According to the company the remainder of the $200 million to $250 million in reorganization costs is scheduled to be booked in the second half of fiscal 2007 and through fiscal 2008.

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