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To: Johnny Canuck who wrote (42028)	12/20/2004 5:41:52 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68677

Jabil Circuit profit rises; forecast disappoints Mon Dec 20, 2004 04:46 PM ET (Adds stock movement, analyst comment) LOS ANGELES, Dec 20 (Reuters) - Jabil Circuit Inc. (JBL.N: Quote, Profile, Research) , on Monday reported a rise in quarterly net income, helped by signs of improving demand, but the contract electronics manufacturer forecast a profit near the low end of estimates, and its shares fell 2 percent after hours. Earnings in the fiscal first quarter ended Nov. 30 were $55.9 million, or 27 cents a share, compared to a year-earlier profit of $42.5 million, or 20 cents a share. Net revenue rose 21 percent to $1.83 billion. The St. Petersburg, Florida-based company said its core earnings, excluding certain items, rose to 32 cents a share. On that basis, the results topped the average analyst forecast of 31 cents a share, as measured by Reuters Estimates. For the second quarter, Jabil said it expected revenue in the range of $1.65 billion to $1.75 billion, in line with Wall Street estimates of $1.70 billion. The company targeted core earnings of 26 cents to 28 cents, while the average analyst estimate for the quarter was 28 cents a share. "I think the Street's a little disappointed with forward guidance," said Scot Robertson, an analyst with Stanford Group Company, a Houston, Texas-based financial services company. Shares of Jabil fell to $25.30 in after-hours trading on INET from a close of $25.77 in regular trading on the New York Stock Exchange. [Harry: Flat EPS in a order that is traditionally down is not that bad. Analysts must have been expecting some new programs to ramp that are not ramping as fast as possible. I won'y know till I hear the call.]