Despite beating analyst expectations on the strength of iPhone sales for which it makes casings, manufacturing services firm Jabil Circuit Inc., the parent company of Clinton-based Nypro Inc., reported rough times for both its fourth quarter and fiscal year on Wednesday.
Impacted by restructuring costs, the company reported a loss of fourth quarter of 26.2 million or 13 cents a share, from $127 million, or 61 cents a share, a year ago. Additionally, revenue dipped for the quarter to $4.1 billion versus $4.8 a year ago.
For its fiscal year ended August 31, the company reported net income of $241 million, down from $371 million in fiscal 2013 on sales of $15.8 billion versus $17.2 billion the prior year.
Jabil said it expected revenue to rise 6 percent for the first quarter in its diversified manufacturing services business, which makes casings for iPhones.
“Fiscal 2014 was a challenging year, in which we made several tough, but thoughtful, decisions and investments. We believe these investments will support future growth opportunities for Jabil,” said CEO Mark Mondello in a statement. “We remain confident in our ability to deliver core earnings per share in the range of $1.65 to $1.95 in fiscal 2015,” Mondello added
