Jabil Circuit's

(JBL) - Get Report

board has approved $200 million in share repurchases over the next year, the company said Wednesday.

The company will purchase shares on the open market or in private transactions.

Shares of the electronics manufacturing services company were up 3 cents to $24.25 in after-hours trading. During the regular session, Jabil fell 27 cents, or 1.1%, to $24.22.