Jabil Circuit Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth

S&P 500 (NYSE:SPY) component Jabil Circuit Inc. (NYSE:JBL) reported net income above Wall Street’s expectations for the fourth quarter. Jabil Circuit is an independent provider of electronic manufacturing services and solutions. It is engaged in the design, production of electronics, and it offers product management and aftermarket services to companies in a wide range of industries, such as the aerospace, defense, medical and telecommunications sectors. .

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Jabil Circuit Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for the electronic equipment company rose to $114.3 million (52 cents per share) vs. $58.7 million (27 cents per share) in the same quarter a year earlier. This marks a rise of 94.7% from the year earlier quarter.

Revenue: Rose 10.9% to $4.28 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: JBL beat the mean analyst estimate of 48 cents per share. It beat the average revenue estimate of $4.19 billion.

Quoting Management: “Posting a record quarter and fiscal year in the present environment is remarkable,” said Timothy L. Main, President and CEO of Jabil. “Demand for our expertise in managing global supply chain networks remains robust, especially now as customers increasingly focus on growth in developing economies.”

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 26.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 37.9% from the year earlier quarter.

The company has now seen net income rise in three straight quarters. In the third quarter, net income rose more than twofold and in the second quarter, the figure rose 85.7%.

The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 49 cents versus a mean estimate of net income of 50 cents per share.

Competitors to Watch: Sanmina-SCI Corporation (NASDAQ:SANM), Benchmark Electronics, Inc. (NYSE:BHE), Kimball International (NASDAQ:KBALB), Plexus Corp. (NASDAQ:PLXS), Celestica Inc. (NYSE:CLS), SigmaTron International (NASDAQ:SGMA), SMTC Corporation (NASDAQ:SMTX), CTS Corporation (NYSE:CTS), Flextronics Intl. Ltd. (NASDAQ:FLEX), and Sparton Corporation (NYSE:SPA).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)

 

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