Jabil Sees $20B Mark Sooner than Expected
ST. PETERSBURG, FL -- Jabil not only beat its own forecast for its fiscal quarter ended Feb. 28, but the contract electronics manufacturer said revenues could reach the $20 billion plateau up to two years ahead of schedule.
Jabil yesterday reported fiscal second quarter revenue of $3.93 billion, slightly ahead of the consensus analyst forecast of $3.91 billion.
Telecom and storage sales were up, offset by partially by semiconductor capital equipment. However, the latter is expected to drive revenue growth, and the EMS company's management told analysts that all three segments will outgrow their long-term growth targets during the current fiscal year.
What's more, the firm said if revenue growth hits the midpoint of its growth expectations for each segment, annual sales could top $20 billion by fiscal 2013, up from $13.4 billion in fiscal 2010 (ended Aug. 31, 2010).
The company previously forecast revenue to reach $20 billion by 2014-15.
