Updated from 4:54 p.m. ESTJabil Circuit ( JBL) on Wednesday met Wall Street's expectations for its second-quarter earnings and exceeded the Street's revenue estimates. The company also raised its guidance for the third quarter and full fiscal year. In subsequent quarters, the company will be busy integrating India-based Celetronix into its business, CEO Timothy Main said in a conference call with investors. The acquisition is expected to close in the coming weeks. Jabil shares spiked 5.3%, or $2.03, in recent after-hours trade to $40.27 on the news. Under generally accepted accounting practices, the electronic manufacturing services company made $69 million in net income, or 32 cents a share, up from $46 million in the year-ago quarter, or 22 cents a share. Excluding items, the company earned $78.7 million, or 37 cents a share, compared with $54.9 million, or 27 cents a share in the same quarter last year. Jabil collected $2.31 billion in revenue, up from $1.7 billion in the second quarter of 2005, an increase of 35%. Analysts polled by Thomson First Call were expecting the electronic manufacturing services company to earn 37 cents a share on sales of $2.21 billion. For the next or third quarter, Jabil is guiding higher than analysts' predictions. The company estimated revenue between $2.5 billion and $2.6 billion, or 43 cents a share. Street consensus is for $2.32 billion in revenue, or 41 cents a share. For the full year, Jabil also beat the Street, forecasting earnings of $1.70 on revenue of $9.9 billion vs. $1.65 on $9.35 billion in revenue estimated by analysts. "The principal challenge we have is to manage our growth," Main said on the call with investors, adding that the demand for outsourcing is not slowing down, and "the challenge is execution."