Jabil Circuit Inc. (JBL) Wednesday reported third-quarter net income of $49.6 million or $0.24 per share, compared to $101.6 million or $0.48 per share in the comparable quarter last year.
Core earnings for the quarter dropped to $115.6 million or $0.56 per share from $134.4 million or $0.64 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 5.1 percent to $4.47 billion from $4.25 billion in the year-ago period, while nine analysts estimated revenues of $4.40 billion for the quarter.
Looking forward to the fourth quarter, the company expects earnings of $0.04 to $0.12 per share, core earnings of $0.50 to $0.58 per share and net revenues of $4.45 billion to $4.65 billion. Analysts currently estimate earnings of $0.60 per share and revenues of $4.59 billion for the quarter.
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