Jabil Circuit Q3 Profit Meets Estimate; Revenue Misses

(RTTNews) - Contract electronics manufacturer Jabil Circuit, Inc. (JBL) reported net income for the third quarter of $72.2 million or $0.37 per share, compared to $188.3 million or $0.93 per share for the year-ago quarter.

Excluding items, core earnings for the third quarter were $96.5 million or $0.49 per share, compared to a core loss of $11.3 million or $0.06 per share in the prior year quarter.

Net revenue for the third quarter rose to $4.36 billion from $3.79 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.49 per share on revenue of $4.46 per share for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts net revenue of $4.45 billion to $4.65 billion, earnings of $0.27 to $0.38 per share and core earnings of $0.40 to $0.50 per share. Analysts currently expect the company to earn $0.47 per share on revenue of $4.74 billion for the fourth quarter.

For the fiscal year 2015, the company now forecasts revenue of $17.7 billion to $17.9 billion and core earnings of $1.95 to $2.05 per share. Previously, the company forecast revenues of $17.5 billion to $18.5 billion and core earnings of $1.85 to $2.15 per share.

Analysts currently expect the company to earn $2.02 per share on revenue of $18.06 billion for the fiscal year 2015.