Jabil Circuit Inc. (JBL) Wednesday reported second-quarter net income of $88.5 million or $0.43 per share, down from $97.7 million or $0.46 per share last year.
Core earnings for the quarter dropped to $109.3 million or $0.53 per share from $123.2 million or $0.58 per share last year. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.54 per share for the quarter. Analysts' estimates typically exclude special items.
For the quarter, revenues grew 4.3 percent to $4.42 billion from $4.24 billion last year. Analysts estimated revenues of $4.38 billion for the quarter.
Looking forward to the third quarter, the company expects earnings of $0.40 to $0.48 per share, core earnings of $0.50 to $0.58 per share and net revenues of $4.3 billion to $4.5 billion. Analysts currently estimate earnings of $0.61 per share and revenues of $4.52 billion for the quarter.
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