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To: Johnny Canuck who wrote (46677)	3/23/2011 1:39:15 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68411

Jabil Circuit climbs on 2Q report and 3Q outlook Jabil Circuit jumps on strong enterprise sales in fiscal 2nd-quarter and 3rd-quarter forecast On Wednesday March 23, 2011, 12:48 pm NEW YORK (AP) -- Shares of Jabil Circuit Inc. climbed Wednesday after the electronic parts maker posted strong second-quarter results and gave a solid forecast for its third quarter. THE SPARK: The St. Petersburg, Fla., company said its profit nearly doubled in the fiscal second quarter. Its adjusted profit of 54 cents per share was 3 cents above Wall Street estimates. Jabil said it expects to earn 55 cents to 59 cents per share in the third quarter. FactSet reports that analysts expected 53 cents per share, on average. The company's estimate does not include any disruption to the company's business in Japan. THE BIG PICTURE: Citi Investment Research analyst Jim Suva said Jabil's enterprise and infrastructure business grew faster than expected and its profit margins were in line with its own forecasts. He said the second-quarter results got a boost from a lower tax rate. Suva kept a "Hold" rating on the stock, but raised his price target to $25 per share from $22. Raymond James analyst Brian Alexander maintained an "Outperform" rating on the shares. "This quarter's performance serves as a testament to both the company's crisp operational execution and strategy to drive an increasing mix of higher margin revenue," he wrote. SHARE ACTION: Jabil stock rose $1.97, or 10.4 percent, to $20.91 in midday trading. Earlier the stock rose 12.5 percent to $21.30. The shares have traded between $10.17 and $23.09 in the last year.