ST. PETERSBURG, FL – Jabil reported fiscal fourth quarter net revenue of $7.3 billion, up 11.1% year-over-year.

For the quarter ended Aug. 31, net income was $68.9 million, an increase of 28.2% compared to the same period in 2019. Operating income was $197.1 million, up 3.9%.

“I’m thrilled with our ability to deliver such strong financial results to close out fiscal 2020,” said CEO Mark Mondello. “Over the past several years, we’ve strategically positioned Jabil in attractive end-markets, while building the most desired products and serving the world’s most successful brands. At the same time, we’ve streamlined the organization, creating a more optimized cost structure. These collective efforts allowed us to beat expectations in the fourth quarter, despite the various complexities brought about by the global pandemic.”

For fiscal 2020, Jabil posted net revenue of $27.3 billion, an increase of 7.8% year-over-year. Net income for the fiscal year was $56.8 million, compared to $289.5 million in the prior year. Operating income was $499.8 million, down 28.7%.

“As we exit fiscal 2020 and look ahead, I am excited with the momentum underway in our business,” said CFO Mike Dastoor. “Several of our key businesses remain especially strong, including mobility, healthcare and cloud. At the same time, we’re permanently transitioning certain components we procure in our EMS segment from the current purchase-and-resale model to a consignment service model.”

For the fiscal first quarter, Jabil expects net revenue of $6.7 billion to $7.3 billion and operating income of $238 million to $283 million.

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