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

To: Carmine Cammarosano who wrote (4133)	6/17/1998 9:09:00 AM
From: RealMuLan	Respond to of 6317

From Briefing.com: 08:47 ET Jabil Circuit Inc. (JBL) 34 1/2: Supplier of turnkey manufacturing services for circuit board assemblies, subsystems and systems posted Q3 net of $0.45 a share, in line with the First Call estimate, vs year-ago profit of $0.38 a share; however, company is warning that it sees flat revenues due to lower output and lower operating income over the next two quarters. Company was also expected to earn $0.45 a share for Q4.

To: Carmine Cammarosano who wrote (4133)	6/17/1998 9:13:00 AM
From: RealMuLan	Read Replies (1) \| Respond to of 6317

9:00 ET ****** JABIL CIRCUIT INC. (JBL) 34 1/2 CLOSED. It is both good and bad news for this electronic manufacturer of circuit board assemblies and systems as earnings for Q3 met market expectations, but the company warned about operating income over the next two quarters. Actually, while Q3 earnings of $0.45 a share matched Wall Street expectations, revenues for the quarter fell sequentially 6.4% to $309.6 million. Jabil also said that it expected revenues to remain flat for the rest of 1998. Hence, the negative news tends to outweigh the positive as the company cited a decrease in production levels for the lower trend in revenues from the previous quarter. It also cited higher production costs associated two start-ups and transition costs. In the year-ago period, Jabil earned $0.38 a share on revenues of $247.64 million. And while Jabil did not provide estimates on the degree by which operating income would be affected by the slowdown in production demand, Jabil was expected to earn $0.45 a share in Q4. The slowdown in contract manufacturing is not surprising given the weak trend in the sector, but with Solectron (SLR 40 5/8) reporting earnings on Monday that were in line with expectations, this might have given false hope that everything was okay with the group. Expect JBL to give back yesterday's gain of more than $2 1/2 this morning.