Today Jabil Circuit, Inc. (NYSE: JBL), announced preliminary, unaudited financial results for its fourth quarter and full fiscal year, ended August 31, 2013.
“Delivering record revenues, generating more than a billion dollars of cash flow from operations, and achieving a core return on invested capital of 21 percent are clear highlights of our fiscal year,” said Jabil’s Chief Executive Officer Mark Mondello. “In addition, we are pleased to return nearly $200 million in capital to shareholders through dividends and share repurchases, while continuing to thoughtfully invest capital back into the business, both organically and acquisitively, with an eye on long-term earnings growth,” said Mondello.
The company reported fourth quarter revenue of $4.8 billion and fiscal year revenue of $18.3 billion.
Jabil’s three reporting segments delivered the following revenue results for the company’s fourth fiscal quarter:
- Diversified Manufacturing: $2.1 billion.
- Enterprise & Infrastructure: $1.4 billion.
- High Velocity: $1.3 billion.
“I would like to acknowledge the continued dedication of our employees because it is their efforts and commitment that truly differentiate Jabil and enable us to achieve our goals,” said Mondello.
Generally accepted accounting principles (GAAP) operating income for the fourth quarter was $88.4 million and $511.4 million for the full fiscal year, ended August 31, 2013. GAAP diluted earnings per share for the fourth quarter were $0.61 and $1.79 for the fiscal year. The company said that $89.5 million in restructuring activity during the year and a $25.6 million non-cash charge related to a note receivable and related charges in the third quarter impacted the fiscal year GAAP operating income and $61.1 million in restructuring activity impacted the fourth quarter GAAP operating income.
Core operating income results, excluding amortization of intangibles, stock-based compensation and related charges, restructuring and related charges, impairment of notes receivable and related charges and acquisition costs and purchase accounting adjustments, was $721.1 million and core diluted earnings per share was $2.26.