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After losing more than $1 billion in 2009, Jabil Circuit (symbol: JBL) netted $171 million in profits in its 2010 fiscal year, representing broken records in both earnings and revenues.
Jabil earned $13.4 billion over the past 12 months, a company release shows, up 14% from the $11.7 billion earned the year before. The bulk of those gains were realized in the past two quarters (http://www.review.net/section/detail/jabil-on-record-breaking-pace/), including a year-over-year increase of $1 billion in quarterly revenues in the three months ended Aug. 31.
“As underlying demand trends appear to be stable, our continuing penetration into high growth markets and differentiated services are driving continued revenue growth and margin expansion,” said Jabil CEO Timothy Main.
Further, Main expects the growth to continue. “Expectations for our first fiscal quarter of 2011 place the company on path to post another record year in fiscal 2011,” he added.
Jabil Circuit is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies.
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