Jabil (JBL) Shows Strong Q3 Growth, But Outlook Disappoints

June 21, 2011 4:42 PM EDT
Jabil Circuit (NYSE: JBL) is trading slightly higher after-hours, following third-quarter earnings results.

Revenue in the quarter jumped 22 percent to $4.23 billion, beating consensus views calling for a milder $4.14 billion.

Net income in the quarter roared 98 percent higher, from $52.69 million to $104.70 million, or 47 cents per diluted share. Adjusting for amortization of intangibles and stock-based compensation, and earnings were a bolder 58 cents per share, beating the consensus by 1 cent.

Looking ahead, Jabil sees fourth-quarter revs of $4.1 to $4.3 billion and earnings of 52 to 60 cents per share. The Street consensus is currently looking for revs of $4.3 billion and stronger earnings of 61 cents per share.

Further, Jabil also announced a $200 million common stock buyback plan.

Jabil is up about 0.7 percent post-market.

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