ST. PETERSBURG, Fl -- Jabil reported preliminary, unaudited financial fourth quarter net revenue of $5 billion, up 13.3% from a year ago.
Net income rose 18.9% to $46 million. GAAP operating income was $118.1 million, up from $93.8 million last year.
In the fourth quarter, revenue for the Diversified Manufacturing Services segment was $2.15 billion, an increase of 32% on a year-over-year basis, good for 43% of total company revenue. Operating income for the quarter was 2.5%. Electronics Manufacturing Services segment revenue was $2.87 billion, an increase of 3% on a year-over-year basis, representing 57% of total company revenue. Operating income for the EMS segment was 4.8%.
For the fiscal year ended Aug. 31, 2017, net revenue was $19.1 billion, up 4% year-over-year. GAAP operating income was $410.2 million, down 21.6%. Net income plunged from $254.9 million to $127.2 million. Cash flow from operations was $1.26 billion.
The Diversified Manufacturing Services segment revenue was approximately $8 billion, up 9% year-over-year basis. Operating income was 2.9%. Electronic Manufacturing Services segment revenue was approximately $11.1 billion, flat year-over-year. Operating income was 3.9%, an improvement of 50 basis points over fiscal 2016.
For the full fiscal year, Jabil had one customer with revenues in excess of 10% -- Apple, at 24%.
“I’m very pleased with our team’s performance throughout the fiscal year,” said CEO Mark Mondello. “As we described at the outset of the year, success would include solid revenue and core earnings growth coupled with strong cash flow generation. Clearly, we delivered on these strategic objectives.”
Mondello guided for November quarter $5.25 billion to $5.75 billion and operating income of $111 million to $182 million. “Looking ahead, we expect continued revenue and core EPS growth in both the first quarter and fiscal 2018."