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

To: OldAIMGuy who wrote (5991)	3/19/2002 9:51:52 PM
From: Return to Sender	Read Replies (1) \| Respond to of 6317

Jabil net falls 91% but targets improve By Chris Kraeuter, CBS.MarketWatch.com Last Update: 5:27 PM ET March 19, 2002 marketwatch.com ST. PETERSBURG, Fla. (CBS.MW) -- Jabil Circuit's fiscal second-quarter net income fell 91 percent from the same quarter last year, but the contract manufacturer said late Tuesday that financial results should improve through the rest of the year. "We are most encouraged by recent new business wins ... positioning us well for a much improved fiscal 2003," said CEO Timothy Main, according to a statement. Ahead of this announcement, shares (JBL: news, chart, profile) ended Tuesday down 34 cents, or 1.6 percent, to $20.76. For the quarter ended on Feb. 28, Jabil reported net income of $3.7 million, or 2 cents a share, on revenue of $822 million. During the same quarter last year, net income was $40.7 million, or 21 cents a share, on revenue of $1.2 billion. Excluding certain items, income was $15.3 million, or 8 cents a share. Analysts surveyed by Thomson Financial/First Call expected earnings excluding items of 7 cents a share, on revenue of $810.9 million, on average. During the third quarter, earnings excluding items are expected to be 11 cents to 13 cents a share on revenue of $825 million to $855 million. Analysts expected earnings excluding items of 11 cents a s share on revenue of $880 million, on average. Growth is expected in the automotive, consumer, instrumentation and medical, networking and peripheral sectors, while lower levels of production are expected in the telecommunications and computing/storage segments. Full year earnings excluding items are expected to be 45 cents to 50 cents a share on revenue of $3.5 billion to $4 billion.