The chipmaker reported a loss of -6 cents a share, beating the Capital IQ Consensus of a loss of -8 cents a share by -2 cents. Revenue fell -15% from the year-ago quarter to $3.8 billion, beating analysts' expectations of $3.6 billion.
"Our third fiscal quarter performed largely as planned and is highlighted by a strong balance sheet performance, driven by significant cash flow from operations and a total cash position of $1.3 billion," Jabil CFO Forbes Alexander said in a press release.
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TheStreet Ratings team rates JABIL CIRCUIT INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JABIL CIRCUIT INC (JBL) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."