Jabil's Sales Up 2% YoY
ST. PETERSBURG, FL -- Jabil Circuit reported preliminary fiscal second quarter revenue of $4.4 billion, up 2% year-over-year.
Net income rose 51.7% to $78.9 million for the period ended Feb. 28. Operating income was $154.9 million, up $30 million from a year ago.
The company's two major business units, Diversified Manufacturing Services and Electronics Manufacturing Services, reported revenue of $1.7 billion and $2.7 billion, respectively.
“I’m pleased to report second quarter results that were largely in line with our guidance and expectations,” said CEO Mark Mondello. “The performance of our EMS segment was outstanding and above expectations, while our DMS segment grew modestly as we faced a slight downturn in product demand late in our fiscal quarter specific to our mobility business,” he added.
Jabil guided for fiscal third quarter net revenue of $4.1 billion to $4.3 billion and operating income of $46 million to $71 million. It updated its full year fiscal 2016 revenue outlook to approximately $18.5 billion. “Our updated outlook for the third quarter reflects reduced demand in mobility,” said Mark Mondello.
Jabil is a major supplier to Apple.
