Jabil earnings up sharply

Jabil Circuit Inc., which assembles electronics for other manufacturers mostly in other countries, does not expect to be a shrinking violet despite a weak economy and tighter credit.

In releasing a nearly five-fold increase in fourth quarter earnings, the St. Petersburg company said it has $1.5-billion in cash and credit facilities to bankroll 2009 capital spending that includes more investment in plants in China and Mexico.

"We did well after the last two recessions and think we're positioned to make hay in this one," said Tim Main, president and chief executive, who thinks the U.S. has been in recession since late 2007.

... 4th Qtr ... Year Ago

Revenue ... $3.3-b ... $3.1-b

Net income ... $58-m ... $12-m

Per share ... 28 cents ... 6 cents

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... 2008 ... 2007

Revenue ... $12.8-b ... $12.3-b

Net income ... $134-m ... $73-m

Per share ... 65 cents ... 35 cents

Jabil earnings up sharply 09/26/08 [Last modified: Sunday, September 28, 2008 1:34pm]

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