Yesterday Jabil Circuit Inc. reported preliminary, unaudited financial results for its first quarter of fiscal year 2017, including first-quarter net revenue of $5.1 billion.
“I’m really pleased with our strong first quarter results,” said CEO Mark Mondello in a press release. “In particular, we saw strength in our healthcare, packaging, and consumer lifestyles businesses within our DMS segment, combined with yet another solid quarter of execution from our EMS segment, allowing us to deliver excellent results,” he added. “Looking ahead, we’ll remain focused on our multiyear financial objectives and longer-term enterprise goals, while following through on our commitment to return capital to shareholders, as previously communicated under our two-year capital allocation framework.”
Maria Armental at The Wall Street Journal reports that Jabil’s “…quarterly results largely beat Wall Street projections, bolstered by stronger-than-projected results from its diversified manufacturing services segment, which includes Apple” as a customer. She notes that nearly half of the company’s revenue comes from five customers, with Apple accounting for 24% of its revenue over the past two years.
