ST. PETERSBURG, FL – Jabil Circuit reported fiscal fourth quarter net revenue ended Aug. 31 of $4.4 billion, down 5.3% year-over-year.

Net income for the period was $38.7 million, a decrease of 56.3% compared to the same quarter in 2015. Operating income was $93.8 million, down 37.6%.

The firm posted record fiscal year net revenue of $18.4 billion, up 2.5% compared to last year.

Net income for the fiscal year ended Aug. 31 was $254.9 million, down 10.8% year-over-year. Operating income was $522.8 million, down 5.9%.

“Our fiscal 2016 was characterized by a blend of exceptional performance, significant variability, excellent cost control and wonderful customer care,” said CEO Mark Mondello.

Jabil expects net revenue for the first fiscal quarter of 2017 from $4.8 billion to $5 billion, while US GAAP operating income is forecast in the $82 million to $152 million range.

“In fiscal 2017, we’ll continue to deliver upon our recently communicated capital return framework, ensure our global operations are efficiently managed to support our customers, and continue to aggressively grow key areas of our business,” said Mondello.

Jabil said it intends to realign its global capacity and administrative support infrastructure, estimating  the realignment will cost approximately $195 million in total charges over a two-year period.

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