Mar 20, 2003 EBN
(03/19/2003 4:59 PM EST)
Jabil Circuit Inc. said it expects its third fiscal quarter to generate revenue between $1.2 and $1.24 billion and earnings per diluted share in the 17 to 19 cent range.
Executives at the St. Petersburg, Fla., company based their earnings forecast on the results of the company's second quarter, which ended Feb. 28., in which the EMS company reported a profit of $10.1 million, or 5 cents a share, compared to a profit of $3.7 million, or 2 cents per share in the corresponding year-ago quarter.
In the recent second quarter, Jabil garnered $1.14 billion in revenue compared to $822 million in the second quarter of 2002. Jabil executives credited new customers and controlled operating costs for the company's successful quarter.
Jabil reported $17 million in restructuring charges in the recent quarter.
"In a very tough environment, Jabil has just reported its fourth successive quarter of increasing revenue and operating profits, while maintaining solid balance sheet metrics," said Chris Lewis, Jabil's chief financial officer in a statement.
