Make us your home page

Jabil profits jump on asset sell-off

Jabil Circuit's revenue slumped as anticipated in its third quarter, but profits more than tripled thanks to a $238.5 million gain from selling discontinued operations, namely its after-market services business.

An electronics manufacturer at its core, the St. Petersburg company has increasingly broadened into areas like health care and consumer packaging.

Net revenue for the fiscal quarter ended May 31 fell almost 10 percent, from $4.2 billion to $3.8 billion. Net income rose 276 percent, from $50 million, or 24 cents per share, to $188 million, or 93 cents per share.

The results beat expectations. Analysts had expected the company to post earnings of 9 cents a share on $3.6 billion in revenue.

Jabil released its report after the close of market Wednesday. Jabil stock closed at $20.10, up 13 cents a share and was trending up further in after-hours trading.

Jabil profits jump on asset sell-off 06/18/14 [Last modified: Monday, July 7, 2014 10:34am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. A sports rout on Wall Street


    NEW YORK — Sporting goods retailers can't shake their losing streak.

  2. Grocery chain Aldi hosting hiring event in Brandon Aug. 24


    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  3. Lightning owner Jeff Vinik backs film company pursuing global blockbusters


    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]
  4. Trigaux: Look to new Inc. 5000 rankings for Tampa Bay's future heavyweights


    There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.


    Kyle Taylor, CEO and founder of The Penny Hoarder, fills a glass for his employees this past Wednesday as the young St. Petersburg personal advice business celebrates its landing at No. 25 on the 2017 Inc. 5000 list of the fastest growing private companies in the country. Taylor, still in his 20s, wins kudos from executive editor Alexis Grant for keeping the firm's culture innovative. The business ranked No. 32 last year. [DIRK SHADD   |   Times]
  5. Ford's Garage opens new Westchase spot


    Ford's Garage opened its sixth Florida location in Westchase this week.

    hillsevbiz081817: Ford's Garage opened its sixth Florida location in Westchase this week. Photo courtesy of Ford's Garage