ST. PETERSBURG, FL – Jabil reported fiscal first quarter net revenue of $7.5 billion, up 15.4% year-over-year.

Net income was $40.7 million in the quarter ended Nov. 30, down 67.2% compared to the same quarter last year. Operating income was $152.8 million, a decrease of 29.5%.

“Our first quarter results reflect exceptional execution across all of our businesses,” said CEO Mark Mondello. “Our team delivered strong revenue and achieved our margin target, enabling us to drive core EPS well-above expectations.”

Electronics manufacturing services reported year-over-year revenue growth of 26%. Diversified manufacturing services posted revenue growth of 3%.

For the fiscal second quarter, Jabil expects net revenue between $6 billion and $6.7 billion and US GAAP operating income between $70 million and $189 million. The company forecasts EMS revenue to increase 5% year-over-year.

"In September, we outlined a strategic plan that focused on providing world-class solutions for our customers and value for our shareholders through a better mix and balance of business. Today, I’m pleased to report our strategy remains intact, and our plan is working well, as reflected by our first quarter results."

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