Jabil Closes 2011 Fiscal Year with Bang
ST. PETERSBURG, FL -- Jabil Circuit reported preliminary fourth-quarter net income rose 95% to $114.3 million, a record for the period.
Revenue at the contract printed circuit board assembler was up 10.3% to $4.3 billion for the quarter ended Aug. 31.
For its fiscal 2011, Jabil's revenue grew 23% to $16.5 billion, and operating income rose 77% to $578.7 million. Net earnings rose 126% to $381.1 million.
“Posting a record quarter and fiscal year in the present environment is remarkable,” said Tim Main, president and CEO.
Jabil achieved growth through a combination of market share gains, new customer wins and new production from its existing customer base.
Revenue from Diversified Manufacturing Services (also known as EMS) rose 43% over fiscal 2010. Specialized Services was up 76%, Health care and Instrumentation was up 31%, Industrial and Clean Tech grew 19%, Enterprise and Infrastructure was up 18%, and High Velocity rose 11%.
“In addition to progress against our long-term objectives, we generated significantly higher cash flow in fiscal 2011, enabling the return of $262 million in capital to shareholders via our dividend and share-repurchase program,” said Main. The company generated $828 million in cash from operations during the fiscal year.
