firmed up 2005 targets Tuesday, shrugging off the loss of a big telecom sector customer.
Jabil said it would make about $1.28 a share for the year on a so-called core basis, on revenue of $7.5 billion. Those figures are in line with Wall Street's estimates. The St. Petersburg, Fla., tech manufacturer said it issued the guidance in response to an "unsubstantiated news item posted online late yesterday afternoon."
reported Monday that Jabil is about to be dropped by customer
( LU) as the telecom gearmaker
trims the ranks of its outsourcing partners.
Jabil said Tuesday that it "does not comment on or provide customer-specific guidance," but it went on to point out that telecom sector revenue should account for 8% to 9% of its 2005 target. It added that "Jabil's telecommunications sector has numerous customers," none of whom account for more than 2% to 3% of revenue.
"The guidance we provided for the overall business, and specifically for our telecommunications sector, remains solid," said CEO Tim Main.
Jabil fell 16 cents early Tuesday to $28.92.