Jabil’s Q2 Revenue Down 14.3%
ST. PETERSBURG, FL – Jabil Circuit reported second-quarter fiscal 2014 revenue of $3.6 billion, down 14.3% year-over-year.
The firm reported a GAAP net loss of $38.7 million, compared to net income of $88.5 million in the same period last year.
GAAP operating income for the second quarter was $3.6 million, compared to a $133 million during the same quarter of 2013. The company said $32.2 million in restructuring costs during the quarter impacted GAAP operating income.
Diversified Manufacturing Services accounted for $1.6 billion of revenue, while Enterprise & Infrastructure accounted for $1.2 billion. High Velocity Systems posted revenue of $800,000.
The firm expects Diversified Manufacturing Services to stay consistent in the third quarter, while Enterprise & Infrastructure is expected to decline 5%. High Velocity Systems is expected to decline 40%.
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