Jabil Circuit Revenue Rises

Updated from Sept. 26

Jabil Circuit (JBL) could only offer partial quarterly results to shareholders on Tuesday, but investors focused on the company's bullish forecast.

In early Wednesday trading, the stock was up $1.21, or 4.3%, to $29.10.

For its first quarter, Jabil expects revenue between $3.1 billion to $3.3 billion, higher than analysts' projections of $3.07 billion. The company also said it expects revenue growth of about 20% for fiscal 2007, suggesting revenue of about $12.36 billion. Consensus anticipated $12.2 billion for the full 2007.

Jabil said fourth-quarter revenue increased 45% year-over-year to $3 billion compared to $2 billion last year. Analysts polled by Thomson First Call had pegged the company for $2.84 billion on the top line.

For the full year, sales grew 36% to $10.3 billion up from $7.5 billion in fiscal 2005. Analysts forecast $10.16 billion for the full year.

The company said that the Office of the Chief Accountant of the Securities and Exchange Commission had recently issued general instructions for companies on issues connected to their stock options granting practices.