Shares of contract electronics manufacturer Jabil Circuit (JBL) are up 91 cents, or almost 5%, at $19.48 in late trading after the company this afternoon reported fiscal Q1 revenue and profit that topped analysts’ estimates, and projected this quarter’s revenue in line with estimates, while forecasting profit to fall below consensus.
Revenue in the three months ended in November rose to $4.64 billion, yielding EPS of 61 cents.
Analysts had been modeling $4.41 billion and 56 cents.
For the current quarter, the company sees revenue in a range of $4.3 billion to $4.5 billion, and EPS in a range of 50 cents to 58 cents. That compares to the Street consensus of $4.38 billion and 59 cents.
CEO Tim Main remarked, “”Expectations for the second fiscal quarter of 2013 are consistent with seasonal patterns of demand.”
“End market demand remains muted in business sectors exposed to government and business spending. Although environmental conditions continue to be uncertain, we maintain our expectation that fiscal 2013 will be another record year for Jabil.”
Jabil management will host a conference call with analysts at 4:30 pm, Eastern time, and you can catch the webcast of it here.
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