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Today Jabil Circuit, Inc. reported preliminary, unaudited financial results for its first quarter of fiscal year 2016. The company reported first quarter net revenue of $5.2 billion, a 14 percent increase from the first quarter of fiscal year 2015.
"I am extremely pleased with our strong first quarter results which were driven by improved product diversification and exceptional productivity across both of our business segments," said Mark T. Mondello, Chief Executive Officer. "This record quarter illustrates the power of both our DMS and EMS businesses as highlighted by a 55 percent core EPS growth year-on-year. This is a great start to our fiscal year and Jabil remains well-positioned for a solid 2016," added Mondello.
U.S. generally accepted accounting principles (U.S. GAAP) operating income for the first quarter was $214.5 million and U.S. GAAP net diluted earnings per share was $0.68. Core operating income (as defined below) was $248.5 million and core diluted earnings per share (as defined below) was $0.85.
Jabil's two reporting segments delivered the following revenue results for the company's first fiscal quarter:
- Diversified Manufacturing Services: $2.5 billion
- Electronics Manufacturing Services: $2.7 billion
"Our strategic investments continue to pay dividends as evidenced by our 24 percent core return on invested capital in the first quarter. I am also pleased that our outlook for the balance of the fiscal year remains on track, supported by our customized supply chain management and engineering solutions, both of which are increasingly important in this digital age," Mondello said.
Management reiterated fiscal year 2016 revenue outlook of approximately $20 billion and increased core diluted earnings per share outlook to approximately $2.65.
Jabil is an electronic product solutions company providing comprehensive electronics design, production and product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 28 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, "JBL".