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Technology Stocks : Jabil Circuit (JBL)

JBL 196.60

+2.1%

Nov 21 9:30 AM EST

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To: Frank Drumond who wrote (4738)	12/8/1998 10:27:00 AM
From: Asymmetric	Read Replies (1) of 6317

Monday December 7, 11:34 pm Eastern Time Jabil Circuit revises Q4 charge ST. PETERSBURG, Fla., Dec 7 (Reuters) - Jabil Circuit Inc said Monday it has reduced the charge it took in its fourth quarter ended Aug. 31 in connection with the acquisition of Hewlett-Packard Co's LaserJet Formatter Manufacturing Organisation. The company said in a statement it has reduced the acquisition-related charge to $20.8 million from a preliminary $24.4 million. The reduction increases Jabil's net income for the fiscal year by $2.2 million, or $0.06 per share and increases the goodwill by $3.6 million. Amortization of this goodwill will be recorded over a 10-year period, or $360,000 annually, Jabil said. The change from the previously reported charge is due to a reduction of the in-process research and development -related expense. The company said the reduction was appropriate in light of recent guidance by the U.S. Securities and Exchange Commission. Jabil makes assemblies for communications, personal computer, computer peripheral and automotive equipment manufacturers. (Jabil presently at $66+. $70 just around the corner!) Peter

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