ST. PETERSBURG, FL – Jabil reported fiscal fourth quarter net revenue of $6.6 billion, up 13.9% year-over-year. Electronics manufacturing services revenue grew 23%.

For the period ended Aug. 31, net income was $53.8 million, compared to a net loss of $56.6 million in the same period of 2018.

Jabil posted fiscal fourth quarter operating income of $189.7 million, an increase of 23.3% year-over-year.

For fiscal year 2019, net revenue was $25.3 billion, up 14.4% compared to fiscal 2018. Electronics manufacturing services revenue grew 26%.

Net income for the fiscal year was $289.5 million, an increase of 230.7%. Operating income grew 29.4% to $701.4 million.

"I’m thrilled with our fiscal 2019 results, highlighted by outstanding operational execution, strong free cash flow generation and double-digit core EPS growth," said CEO Mark Mondello. "As expected, our revenue was driven higher by targeted end-markets in the areas of 5G, cloud, energy and healthcare. Looking ahead, we expect the positive momentum to continue as we remain committed to driving margin expansion and delivering strong cash flows, derived from a well-balanced stream of revenue."

Jabil expects fiscal first quarter net revenue between $6.65 billion and $7.35 billion and US GAAP operating income between $128 million and $206 million.

Electronics manufacturing services revenue is expected to increase 11% year-over-year in the fiscal first quarter.