ST. PETERSBURG, FL -- Jabil turned in a strong November quarter as all its business segments grew sequentially and profitability improved.

The contract electronics manufacturer also issued higher-than-expected guidance for the current quarter.

For the period ended Nov. 30, Jabil's net income rose 277% year-over-year to $106.7 million on a 32% hike in revenue to $4.08 billion from $3.09 billion.

For the just-ended quarter, operating margins rose 40 basis points sequentially. Inventories grew 3%, but according to company management, stock levels will decline in the current quarter as the supply chain eases. Cash flow from operations was negative, primarily due to a contraction in accounts payable.

Jabil guided for $3.85 billion to $3.95 billion in revenue in the current period, which ends Feb. 28, above the Wall Street consensus forecast of $3.7 billion in revenue.

In a conference call with analysts Monday night, Jabil management said it could see revenue of $16.2 billion in the current fiscal year and top $20 billion in 2014-15.