This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jabil Posts Fourth Quarter & Fiscal Year 2012 Results

The Company calculates: (1) its "after-tax GAAP operating income" by subtracting a certain tax effect (the calculation of which is explained below) from its GAAP operating income and (2) its "after-tax non-GAAP core operating income" by subtracting a certain tax effect (the calculation of which is explained below) from its non-GAAP core operating income. See elsewhere in this earnings release for a reconciliation of the Company's non-GAAP core operating income to its GAAP operating income.

The Company calculates "net invested capital asset base" as the sum of the averages (the calculation of which are explained below) of (1) its stockholders’ equity, (2) the non-current portion of its notes payable and long term debt and (3) the current portion of its notes payable and long term debt, less the average (the calculation of which is explained below) of its cash and cash equivalents.

The following table reconciles (1) "Return on Invested Capital," as calculated using "after-tax GAAP operating income" to (2) "Core Return on Invested Capital," as calculated using "after-tax non-GAAP core operating income":

 

Three months

ended

 

Twelve months

ended

August 31, August 31,
2012 2012
Numerator:
Operating income (GAAP) $ 144,268 $ 621,931
Tax effect (1)   (32,552 )   (114,341 )
After-tax operating income 111,716 507,590
x4   x1  
Annualized after-tax operating income $ 446,864   $ 507,590  
 
Core Operating Income (Non-GAAP) $ 175,111 $ 736,179
Tax effect (2)   (32,761 )   (115,905 )
After-tax core operating income 142,350 620,274
x4   x1  
Annualized after-tax core operating income $ 569,400   $ 620,274  
 
Denominator:
Average total Jabil Circuit, Inc. stockholders’ equity (3) $ 2,059,312 $ 1,986,089
Average notes payable and long-term debt, less current installments (3) 1,399,240 1,385,460
Average current installments of notes payable and long-term debt (3) 157,225 46,096
Average cash and cash equivalents (3)   (979,693 )   (1,052,934 )
Net invested capital asset base $ 2,636,084   $ 2,364,711  
 
Return on Invested Capital (GAAP) 17.0 % 21.5 %
Adjustments noted above 4.6 % 4.7 %
Core Return on Invested Capital (Non-GAAP) 21.6 % 26.2 %

(1) This amount is calculated by adding the amount of income taxes attributable to its operating income (GAAP) and its interest expense.

4 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs