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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (5868)	9/22/2001 8:19:08 AM
From: Return to Sender	Respond to of 6317

Analyst Upgrade On Jabil Circuit, Inc. VANCOUVER, BRITISH COLUMBIA--(INTERNET WIRE)--Sep 21, 2001-- Jabil Circuit, Inc. (NYSE: JBL - news), rose after an analyst upgrade. Morgan Stanley upgraded Jabil Circuit, Inc. from a neutral rating to an outperform rating this morning. Interestingly, Merrill Lynch reduced its on the Company fiscal year 2002 cash EPS to $0.62 from $0.95 and revenue to $4.175 billon from $5.26 billon. Yesterday, Jabil Circuit reported revenues of $944 million for the fourth fiscal quarter of 2001, compared to $1.1 billion for the same period of fiscal 2000, an 11 percent decrease. Operating income excluding intangible amortization and non-recurring charges for the fourth fiscal quarter of 2001 was $35 million(a) or 3.7 percent of revenue compared to $65 million or 6 percent of revenue for the fourth fiscal quarter of 2000. The company recorded $13.7 million in business restructuring and integration costs during the quarter relating to the Marconi Communications acquisition and other non-recurring charges. Tim Main, President and CEO, said in a conference call, "Business steadily degraded throughout the year. We do not see a strong end market recovery for any sector in the November quarter." Jabil's fourth fiscal quarter of fiscal 2001 net earnings excluding amortization of intangibles and non-recurring charges were $26.0 million (a), compared with $47.6 million for the fourth fiscal quarter of 2000, a 45 percent decrease. Earnings per share on this basis were $0.13 per diluted share, compared to $0.24 for the fourth quarter of fiscal 2000. For more on Jabil Circuit, Inc. as well as real-time news alerts on other publicly traded stocks and mutual funds, please visit www.EquityAlert.com. Contact: Bill Mann EquityAlert.com 604-659-5009 bsm@equityalert.com biz.yahoo.com