Wednesday, May 23, 2018
Business

Jabil Circuit tops Wall Street expectations for revenue, profits

ST. PETERSBURG — Jabil Circuit beat Wall Street targets for both profits and revenue in posting fiscal second-quarter results late Wednesday.

The St. Petersburg-based contract electronics manufacturer, one of Tampa Bay's biggest public companies, reported net income of $20.7 million, or 11 cents a share.

Adjusted for one-time gains and costs, its earnings totaled 48 cents a share, down from 57 cents a year ago, beating analysts' estimates of 45 cents, according to Zacks Investment Research.

Its quarterly revenue of $4.45 billion was up 1 percent from the year-ago period and also topped Zacks' forecast of $4.36 billion.

"The performance of our team during the second quarter was exceptional with nearly all of our businesses delivering at or above plan," CEO Mark Mondello said in a statement. He said the results showed an effective strategy to increase both the quality and diversification of cash flow and earnings.

Mondello stressed that the company has a goal "of becoming the world's most advanced manufacturing solutions company."

As a maker of everything from iPhone casings for Apple to health care packaging, Jabil employs about 150,000 people worldwide, with only a fraction of them (about 7,000) in the United States. It has about 2,000 employees in its St. Peterburg headquarters.

For the current quarter ending in June, Jabil expects its per-share earnings to range from 19 cents to 39 cents, with revenue in the range of $4.25 billion to $4.55 billion.

Earnings were released after the close of market. Earlier, Jabil shares peaked at a 52-week high and closed at $26.98, up 1 percent. Shares sagged more than 3 percent in after-market trading late Wednesday.

Comments
Birchwood owner will open a three-story restaurant and bar at St. Petersburg pier

Birchwood owner will open a three-story restaurant and bar at St. Petersburg pier

ST. PETERSBURG — Chuck Prather, owner of the Birchwood in St. Petersburg, returned from his daughter’s Maine wedding this week with an exciting announcement of his own. On June 7 the St. Petersburg City Council is expected to sign off on him being on...
Updated: 6 hours ago
St. Petersburg’s Jabil expands in Israel with new innovation center

St. Petersburg’s Jabil expands in Israel with new innovation center

St. Petersburg-based contract electronics company Jabil announced Wednesday it has expanded in Israel by opening an Optics Technology Innovation Center.The 6,560-square-foot complex is in Haifa, Israel’s third-largest city. "Our Optics Innovation Cen...
Updated: 8 hours ago
New restaurants on the horizon: Metro Diner and Zoes Kitchen in Tampa, Trophy Fish and Oak & Stone in St. Pete

New restaurants on the horizon: Metro Diner and Zoes Kitchen in Tampa, Trophy Fish and Oak & Stone in St. Pete

OPEN NOW: BAHAMA BUCK’SFeel a shiver? Just in time for Florida’s sultry summer, Bahama Buck’s opened this week in Trinity with an avalanche of sno. The 2,346-square-foot island-inspired shop opened at 8815 Mitchell Blvd. with more than 91 flavors of ...
Updated: 8 hours ago
Lee Roy Selmon's original Tampa restaurant is closing, marking the end of an era

Lee Roy Selmon's original Tampa restaurant is closing, marking the end of an era

Lee Roy Selmon’s, the restaurant that paid homage to the community icon who rose to fame as a Tampa Bay Buccaneer and grew to become a popular civic leader, will shutter the doors of its original location on Tampa’s Boy Scout Boulevard in...
Updated: 9 hours ago
At Bay 3, developers of Tampa’s Armature Works transform old industrial space into new co-work offices

At Bay 3, developers of Tampa’s Armature Works transform old industrial space into new co-work offices

TAMPA — The name of the new Bay 3 co-working space at the Armature Works goes back to World War I, when the red-brick warehouse overlooking the Hillsborough River was the maintenance barn for Tampa Electric’s streetcar system.As the name suggests, it...
Published: 05/23/18
Comcast may outbid Disney for Twenty-First Century Fox

Comcast may outbid Disney for Twenty-First Century Fox

Associated PressPHILADELPHIA — Comcast may make an offer for Twenty-First Century Fox, potentially putting it in a head-to-head bidding war with Disney. Comcast Corp. on Wednesday did not provide specific details on a bid, other than to say that it w...
Published: 05/23/18
Brunch-based alcohol will be available at First Watch’s new Orlando location

Brunch-based alcohol will be available at First Watch’s new Orlando location

ORLANDO — The popular breakfast and brunch chain First Watch will be opening a new restaurant in Orlando that will add cocktails, beer and wine to the menu. The new concept restaurant, set to open on Memorial Day at 1448 N Alafaya Trail, will be 1,00...
Published: 05/23/18
Humana hiring 100 for phone sales, Medicare enrollment assistance

Humana hiring 100 for phone sales, Medicare enrollment assistance

Kentucky-based health care provider Humana is hiring 100 phone sales employees in Tampa Bay. The new hires will field sales calls and offer enrollment assistance for Humana’s Medicare plans and other products.The positions, which are being added to h...
Published: 05/22/18
Updated: 05/23/18
Downtown St. Pete Ford’s Garage and Yeoman’s to open Wednesday

Downtown St. Pete Ford’s Garage and Yeoman’s to open Wednesday

ST. PETERSBURG — Ford’s Garage, a car junkie’s haven, has proven to be popular eatery across the state.Now it has a chance to drive customers to its seats in St. Petersburg. The restaurant opens its ninth location downtown Wednesday at 200 First Ave....
Published: 05/23/18
Target: New Tampa, Clearwater stores part of company-wide makeovers

Target: New Tampa, Clearwater stores part of company-wide makeovers

Target is renovating more than 1,000 stores by the end of 2020, including two SuperTarget locations in New Tampa and Clearwater.The Clearwater store’s makeover — which the corporation calls ‘‘reimagining" — just wrapped up, according to Target spoke...
Published: 05/23/18