Jabil Circuit Beats Estimates

Shares of Jabil Circuit, Inc. JBL are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 0.85%, at $19.01; they closed the regular session higher by 3.23%, at $18.85. Jabil Circuit, Inc. reported Q3 EPS of $0.58 on revenues of $4.23 billion; the Street was looking for $0.57 per share on revenues of $4.14 billion. Revenues increased 22.3% year over year. "Revenue growth was stronger than expected for our third quarter," said Timothy L. Main, President and CEO of Jabil. "We are pleased to demonstrate continued growth above our long-term targets. As a result, Jabil is poised to deliver record revenue and earnings in fiscal 2011." "We are gratified to see the new business opportunities in targeted segments continuing and are pleased with our operating performance, which remains ahead of our long-term goals for the company" said Main. 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.