Jabil Circuit Reports Solid Earnings; Shares Bid Slightly Lower (JBL)

Jabil Circuit Inc. JBL reports Q4 earnings of $0.52 versus consensus of $0.49. Jabil Circuit Inc. reports revenues of $3.9 billion versus consensus of $3.89 billion. "As underlying demand trends appear to be stable, our continuing penetration into high growth markets and differentiated services are driving continued revenue growth and margin expansion," said Timothy L. Main, Jabil's President and CEO. "Expectations for our first fiscal quarter of 2011 place the company on path to post another record year in fiscal 2011," Main said. Jabil management indicated that it expects net revenue for its first quarter of fiscal 2011 to range from $3.9 billion to $4.0 billion. The company added that they estimated that its core operating income for its first quarter of fiscal 2011 will range from $165 to $175 million or 4.2 to 4.4 percent of net revenue. Jabil indicated that it expects its core earnings per share for its first quarter of fiscal 2011 to range from $0.53 to $0.57 per diluted share. Shares of JBL are lower in the after hours by 1.15%.