Make us your home page

Jabil Circuit's quarterly earnings jump

Jabil Circuit Inc. on Monday reported sharply improved revenue and earnings in a first-quarter performance officials say proves their year-old turnaround strategy is sustainable.

"This is about a business transformation, not a recovery," said Tim Main, chief executive officer of the St. Petersburg electronics manufacturer with operations around the globe.

Revenue in the quarter ended Nov. 30 jumped 32 percent to $4.1 billion, up from $3.1 billion a year ago. Net income tripled to $107 million, up from $28 million. Earnings per share hit 49 cents, up from 13 cents.

While Jabil has been getting about two-thirds of its revenue making components for 10 manufacturers, the company has been bulking up its higher-profit-margin business in services and by making more tech products for fast-growing industries in health care and wireless devices such as smart phones.

While sales from parts made for TV sets, printers and routers were up sharper than expected, profit margins there continue to be squeezed. Going forward, a recent seasonal spike in that business sector is not expected to last into 2011, Main said.

In contrast, in the first quarter Jabil got half its profits working for 50 companies and only two of its 10 biggest customers.

He said it's clear from his vantage point that business has confidence in the U.S. economy.

Mark Albright can be reached at or (727) 893-8252.

Jabil Circuit's quarterly earnings jump 12/20/10 [Last modified: Monday, December 20, 2010 8:26pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa's Homeowners Choice seeks to offer flood insurance in other states


    Tampa-based insurance company HCI Group Inc.'s subsidiaries are trying to expand their flood insurance offerings beyond Florida. HCI has filed with regulators to offer flood coverage in Arkansas, California, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina and Texas.

    Tampa-based HCI Group is trying to expand its flood insurance offerings to other states. Pictured is Paresh Patel, CEO of HCI Group. | [Courtesy of HCI Group]
  2. Home of Tampa Bay Lightning GM Steve Yzerman hits market at $3.45 million

    Real Estate

    TAMPA — The Davis Islands home of Tampa Bay Lightning General Manager Steve Yzerman is back on the market for $3.45 million after a brief hiatus.

    The Davis Islands home of Tampa Bay Lightning General Manager Steve Yzerman is on the market for $3.45 million. [Courtesy of Hi Res Media]
  3. Trigaux: Halfway through 2017, a closer look at six drivers of the Tampa Bay economy


    We're nearly halfway through 2017 already, a perfect time to step back from the daily grind of business and ask: How's Tampa Bay's economy doing?

    Is there one theme or idea that captures the Tampa Bay brand? Not really but here's one possibility. The fun-loving annual Gasparilla "Invasion" of Tampa is captured in this photo of 
The Jose Gasparilla loaded with pirates of Ye Mystic Krewe of Gasparilla on its way this past January to the Tampa Convention Center. In the future a vibrant downtown Tampa or St. Petersburg may be the better theme. [CHRIS URSO   |   Times]
  4. Will new laws protect condo owners from apartment conversions and rogue associations?

    Real Estate

    Danny Di Nicolantonio has lived in St. Petersburg's Calais Village Condominums for 33 years. Annoyed at times by the actions, or inaction, of the condo board and property managers, he has complained to the state agency that is supposed to investigate.

    That has left him even more annoyed.

    A bill passed by the Florida Legislature would affect places like The Slade in Tampa's Channelside district, where condominium owners have battled a plan to convert homes into apartments.
[Times file photo]
  5. Walmart opens first Pinellas County in-house training academy


    Seminole — It had all the hallmarks of a typical graduation: robe-clad graduates marching in to Pomp and Circumstance, friends and family packed together under a sweltering tent and a lineup of speakers encouraging the graduates to take charge of their future.

    New Walmart Academy graduates are congratulated Thursday morning by associates during a graduation ceremony at the Walmart store, 10237 Bay Pines Boulevard, St. Petersburg. The Walmart location is one of the company's training academies where managers complete a one week retail course. David Shultz and Richard Sheehan, both from St. Petersburg, get high fives from the crowd.
[SCOTT KEELER   |   Times]