Jabil Circuit Inc. announced its Q1 FY17 financial results with a net sales of $5.1 bn and operating profit of $165.6 mn, resulting in an operating margin of 3.2%. Net sales were down a marginal 2% from last fiscal year’s Q1 figure of $5.2 bn, while the operating profit was down a significant 23% over last year’s figure of $214.5 mn.
However the management believe the Q1 FY17 results to be strong and attributed them to the growth in healthcare, packaging and consumer lifestyles businesses within the DMS segment and to the EMS segment. The company has also given a guidance for Q2 FY17 with net sales in the range of $4.2-$4.5 bn.
