Jabil Q1 Results Top Estimates; Outlook Strong

(RTTNews) - Jabil Circuit, Inc. (JBL) reported net income for the first quarter of $72.2 million or $0.37 per share, compared to $117.9 million or $0.57 per share for the year-ago quarter.

Excluding items, core earnings for the first quarter were $108.2 million or $0.55 per share, compared to $89.0 million or $0.43 per share in the prior year quarter.

Net revenue for the first quarter rose 5% to $4.55 billion from $4.34 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.48 per share on revenue of $4.34 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts net revenue of $4.15 billion to $4.35 billion, earnings of $0.25 to $0.38 per share and core earnings of $0.39 to $0.50 per share. Analysts currently expect the company to earn $0.38 per share on revenue of $4.12 billion for the second quarter.