Earnings Preview: Jabil Circuit, Inc. (JBL)

Jabil Circuit, Inc. JBL is currently higher on the session by 1.69%, trading at $13.79. The company is scheduled to report earnings today, after the closing bell. • Estimates The Street is looking for Q4 earnings per share of $0.49 on revenue of $3.89 billion. These estimates have remained the same over the past 90 days. The Earingswhispers.com Whisper number for JBL is $0.51. • Guidance The Street is looking for Q1 EPS of $0.53 on revenue of $4.09 billion. The full year 2010 estimates are $1.50 per share on revenue of $13.44 billion; FY 2011 is at $2.00 per share on revenues of $15.77 billion. • Technical Picture JBL has been moving largely lower over the past nine months after confirming a double-top pattern near $18.00. Shares have since traded lower, below the 18-day, 50-day, and 200-day moving averages. While JBL has rallied a bit, they are now at resistance at the 200-day. • Volatility Both historical volatility and implied volatility have been down-trending over the past few months after a spike higher in mid-May. Currently HI is at 42% and IV is at 50%. The front month $14.00 straddle is trading at 58.04%; the November $14.00 straddle is trading at 48.58%. Vol is skewed toward the puts in both months. 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, storage and telecommunications industries. The company's services include integrated design and engineering; component selection, sourcing and procurement; automated assembly; design and implementation of product testing; parallel global production; enclosure services; systems assembly, direct order fulfillment and configure to order, and aftermarket services. Jabil conducts its operations in facilities that are located in Austria, Belgium, Brazil, China, England, France, Germany, Hungary, India, Ireland, Italy, Japan, Malaysia, Mexico, The Netherlands, Poland, Russia, Scotland, Singapore, Taiwan, Ukraine, the United States and Vietnam.