Jabil's Q4 Profits Down on Flat Sales PDF Print E-mail
Written by Mike Buetow   
Tuesday, 25 September 2012 15:33

ST. PETERSBURG, FL -- Top tier EMS Jabil Circuit today announced fiscal fourth-quarter net income plunged 27.6% on weaker demand and slow product ramps.

For the period ended Aug. 31, the company reported revenue of $4.3 billion, flat with a year ago.

Net income for the quarter was $82.8 million, and operating income was $144 million, including a distressed customer charge of $5.9 million. Cash flow from operations was $443 million.

“Results for the fourth quarter were negatively impacted by a challenging new program ramp in our Specialized Services sector,” said Tim Main, president and CEO. “Additionally demand remained weak in most of our business segments.”

For the fiscal year, revenue was $17.2 billion, up 4.2% year-over-year, and good for a new company high. Diversified Manufacturing Services grew 24%, Enterprise & Infrastructure fell 2%, and High Velocity declined 14% during the fiscal year.

"In this environment, posting another record fiscal year in revenue, income and earnings was quite an achievement,” Main said.

For the year, the contract electronics assembler generated cash from operations of $634 million.

 

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