ST. PETERSBURG, FL – Jabil Circuit reported fiscal third quarter net revenue of $4.3 billion, down 1.1% year-over-year.

Net income for the period ended May 31 was $5.8 million, down 92% compared to the same period last year. Operating income was $59.6 million, a decrease of 56% year-over-year.

“Our electronics manufacturing services business performed ahead of plan, supported by near-perfect execution during the quarter,” said CEO Mark Mondello.
“However, as expected, our third quarter results also reflected a soft environment within our mobility business. These challenges will continue to negatively impact our diversified manufacturing services business for the balance of our fiscal year.”

For the first nine months of fiscal 2016, the company's net revenue was $13.9 million, up 5.3% year-over-year. Net income was $216.2 million, an increase of 9.7% compared to 2015. Operating income was $429 million, up 6% year-over-year.

For its fourth fiscal quarter Jabil expects net revenue between $4.15 billion and $4.35 billion and operating income between $60 million and $92 million.

Management updated the fiscal year 2016 revenue outlook to approximately $18.2 billion.