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Jabil Posts Third Quarter Results

Stocks in this article: JBL

In the chart labeled "Fiscal Q4 2013 Guidance, including Nypro acquisition:" Net revenue should read: $4.45 billion to $4.65 billion (sted $4.55 billion to $4.65 billion).

The corrected release reads:

JABIL POSTS THIRD QUARTER RESULTS

Today Jabil Circuit, Inc. (NYSE: JBL), announced preliminary, unaudited financial results for its third quarter of fiscal year 2013. For the quarter, Jabil’s revenue increased 5.1 percent to $4.5 billion, over the third quarter of fiscal year 2012.

Jabil’s three reporting segments delivered the following revenue results for the company’s third fiscal quarter:

  • Diversified Manufacturing: $1.8 billion.
  • Enterprise & Infrastructure: $1.4 billion.
  • High Velocity: $1.3 billion.

“We are pleased with our progress on the diversification of our business and the positive benefits it affords the company,” said Jabil’s Chief Executive Officer, Mark T. Mondello. “We expect this diversification to continue during our fourth fiscal quarter as we finalize our acquisition of Nypro, which is expected to close on the 1 st of July,” he said.

Other highlights from the quarter included producing $504 million cash flow from operations. “Thanks to the dedication of our global workforce, we have generated $810 million cash flow from operations year to date and are on track to deliver $1 billion for our full fiscal year,” said Mondello.

Generally accepted accounting principles (GAAP) operating income for the third quarter of fiscal year 2013 was $103.7 million and GAAP diluted earnings per share were 24 cents. The company said that $28 million in restructuring activity and a $26 million non-cash charge related to a note receivable and related charges impacted GAAP operating income.

Core operating income results excluding amortization of intangibles, stock-based compensation, restructuring and related charges and impairment of notes receivable and related charges was $176.9 million and core diluted earnings per share was 56 cents.

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