ST. PETERSBURG, FL -- Jabil Circuit today announced fiscal first quarter revenue of $4.6 billion, flat with a year ago. The new income for the period ended Nov. 30 was 117.9 million, up 11.4% year-over-year.

Jabil also announced plans to sell its aftermarket services business for $725 million to iQor. Under terms of the deal, iQor will pay $675 million in cash and $50 million in stock, and will continue to support Jabil customers following the close.

By reporting segments, Jabil's November quarter included Diversified Manufacturing at $2.3 billion, Enterprise & Infrastructure at $1.3 billion, and High Velocity at $1 billion. Operating income rose 1.4% to $172.7 million. Jabil took $21.3 million in restructuring costs during the quarter.

The overall picture is somewhat less rosy. Jabil guided for fiscal second-quarter revenue  of $3.5 billion to $3.7 billion, as both its Diversified Manufacturing Services and High Velocity business units are expected to see sales fall 25%, while its Enterprise and Infrastructure unit will be flat.

The iQor deal reunites the Jabil's aftermarket team with iQor's current chief executive Hartmut Liebel, who headed the Jabil unit for 10 years. iQor focuses on customer-support offerings.

“We have many of the pieces on the board now that we need to have,” Gary Crittenden, iQor chairman. “We’ve added a full end-to-end solution in customer care.”

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