Jabil Circuit Revenue Jumps 14%
December 16 2015 - 5:50PM
Dow Jones News
Jabil Circuit Inc., which makes parts for Apple Inc.'s iPhone,
posted strong results for its latest quarter as revenue climbed
14%.
The company also increased its annual guidance for core earnings
on a per share basis to $2.65 from an earlier projection of
$2.60.
Revenue in its diversified manufacturing services segment, which
includes its work for Apple, is projected to increase 14% increase
in the second quarter.
Founded in 1966, the St. Petersburg, Fla., company makes
products for tech companies including Apple and Cisco Systems Inc.
Its financial results have largely mirrored the upswing in the tech
market. Last year, it was forced to restructure operations after
ending business with BlackBerry Ltd., which had been its second
largest customer by volume accounting for 12% of its revenue in
2013.
Overall for the period ended Nov. 30, Jabil reported a profit of
$131.9 million, or 68 cents a share, compared with a year-earlier
profit of $72.2 million, or 37 cents a share. Excluding stock-based
compensation and other items, profit rose to 85 cents from 55 cents
a year earlier.
Revenue rose 14% to $5.2 billion.
The company had projected core profit of 72 cents to 88 cents a
share on $5.1 billion to $5.3 billion in revenue for the first
quarter. Analysts surveyed by Thomson Reuters expected earnings of
80 cents per share and $5.2 billion in revenue.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
December 16, 2015 17:35 ET (22:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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