For the period ended Aug. 31, the GAAP operating income was $86.5 million, up 60% from last year. Core operating income excluding amortization of intangibles, stock based compensation, and restructuring charges for the quarter was $104.6 million (3.2% of revenue) versus $103.8 million (3.3%) last year.

Revenues rose 6% sequentially.

For the year, revenues were up 4% to $12.8 billion, while GAAP operating earnings were up 38% to $251.4 million. Net income was $133.9 million, up 83% compared to 2007.

The firm expects fiscal first-quarter 2009 net revenue in a range of $3.4 billion to $3.6 billion.

 

For the third quarter, EMS sales made up 65% of sales, with core operating income 3.5% of revenue. Industrial, instrumentation and medical sector sales were up 7%, telecom was up 6%, networking was down 2%, automotive fell 13%, and computing and storage sector declined 1%. For the full fiscal year EMS reported $8.2 billion in revenues, or 64% of total company revenues. Of the EMS business, automotive was 4%; computing and storage 12%; instrumentation, industrial and medical 19%; networking 21%; and telecommunications 7%.

Consumer sales were $1 billion, up 21% a sequentially on new business wins in mobility and peripherals.

During the quarter, the cash sales cycle rose one day, to 20 days. Day sales outstanding grew by three days, to 41 days. Accounts payable days outstanding improved by two days to 66 days and inventory days declined by two days from the prior quarter. Inventory turns were flat at eight.

The company’s return on invested capital was 10%, up two points sequentially. During the quarter, Jabil spent $123 million in capital expenditures, bringing the full total to $338 million.

 

 

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