Jabil Circuit Falls On Mixed Earnings and Guidance

Shares of Jabil Circuit JBL are trading lower in the after-hours following the release of the company's Q1 earnings results. Currently, shares are lower by 3.76%, trading at $19.20; they ended the regular session higher by 5.22%, at $19.95. Jabil Circuit reported Q1 EPS of $0.65 on revenues of $4.33 billion; the Street was looking for $0.65 per share on revenues of $4.41 billion. Revenues increased 6.0% year over year. "Jabil posted another company record quarter in revenue and earnings per share, driven by strength in Diversified Manufacturing Services and High Velocity segments," said Timothy L. Main, President and CEO of Jabil. "We are especially pleased with our operating margin performance in the quarter as the emphasis on operational efficiency and business diversity delivered positive results in a period of economic uncertainty." The company sees Q 2 EOS in the range of $0.52-0.62 on revenues of $4.0-4.2 billion; the Street was looking for $0.59 per share on revenues of $4.22 billion. Jabil Circuit, Inc. is a provider of worldwide electronic manufacturing services and solutions. The company provides electronics design, production, product management and aftermarket services to companies in the aerospace, automotive, computing, consumer, defense, industrial, instrumentation, medical, networking, peripherals, solar, storage and telecommunications industries.