Jabil Circuit Falls on Earnings, Outlook

By TSC Staff ,

Jabil Circuit (JBL) - Get Report was down 4.4% in preopen Instinet trading after the electronics manufacturer for the computer sector posted third-quarter earnings of 16 cents a share, in line with analysts lowered estimates and down from 21 cents in the year-ago period.

The company warned that fourth-quarter earnings would be 13 to 15 cents a share on revenue of $950 million to $1.05 billion. Analysts are expecting the company to earn 19 cents in the fourth quarter, according to

Thomson Financial/First Call

.

This morning,

Robertson Stephens

and

Lehman Brothers

both cut their 2001 and 2002 EPS estimates for Jabil. Robertson Stephens now expects earnings of 75 cents a share for 2001, down from 80 cents, while Lehman now expects 76 cents, down from 79 cents.

Loading ...