Updated from 4:54 p.m. ET to include latest share prices, additional information on FSI International and On Assignment.
NEW YORK (TheStreet) -- Shares of Jabil Circuit (JBL) slipped in late trades after the provider of electronics manufacturing services posted an inline profit for its fiscal second quarter but came up short of consensus on the low range of its outlook for the third quarter.
The St. Petersburg, Fla.-based company reported core earnings of $123.2 million, or 58 cents a share, for the three months ended Feb. 29 on revenue of $4.24 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 58 cents a share on revenue of $4.09 billion.
The fact that the company couldn't convert the higher than anticipated revenue into any upside on the bottom line is disappointing. In a business where margins are already razor thin, Jabil saw selling, general and administrative expenses rise to $160.8 million in the latest period from $141.8 million last year.
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