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Jabil Reports Solid Q2

ST. PETERSBURG, Fla. — Jabil Circuit, Inc. (NYSE: JBL), reported its preliminary, unaudited financial results for the second quarter of fiscal 2011, ended February 28, 2011. “We are pleased with the results for the second quarter and first half of fiscal 2011,” said Timothy L. Main, President and CEO of Jabil. “Year over year revenue growth in the second quarter and for the first half of fiscal 2011 exceeded 30 percent. We believe this underscores our ability to deliver sustainable long-term growth.”

Second Quarter 2011
Net revenue for the second quarter of fiscal 2011 was $3.9 billion compared to $3.0 billion for the same period of fiscal 2010. GAAP results

  • GAAP operating income for the second quarter of fiscal 2011 was $104.6 million compared to $61.8 million for the same period of fiscal 2010.
  • GAAP net income for the second quarter of fiscal 2011 was $55.4 million compared to $29.8 million for the same period of fiscal 2010.
  • GAAP diluted earnings per share for the second quarter of fiscal 2011 was $0.25 compared to $0.14 for the same period of fiscal 2010. Core results
  • Core operating income for the second quarter of fiscal 2011 was $168.4 million or 4.3 percent of net revenue compared to $95.6 million or 3.2 percent of net revenue for the same period of fiscal 2010.
  • Core earnings for the second quarter of fiscal 2011 were $118.8 million compared to $63.3 million for the same period of fiscal 2010.
  • Core diluted earnings per share for the second quarter of fiscal 2011 was $0.54 compared to $0.29 for the same period of fiscal 2010. Second Quarter Fiscal 2011 – Balance Sheet and Cash Flow Highlights
  • Cash flow from operations for the quarter was $450.3 million.
  • Sales cycle was 11 days for the second quarter of fiscal 2011.
  • Annualized inventory turns were seven for the second quarter of fiscal 2011.
  • Capital expenditures for the second quarter of fiscal 2011 were $106.1 million.
  • Depreciation for the second quarter of fiscal 2011 was $71.3 million.
  • Cash and cash equivalent balances were $902.3 million as of February 28, 2011.
  • Core return on invested capital was 25.8 percent for the second quarter of fiscal 2011.
  • A $0.07 dividend was paid on March 1, 2011. {complink 2862|Jabil Circuit Inc.}
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