Jabil Circuit lost $28.8 million in the third quarter that ended May 31, a wide swing from the $38.4 million in profits from the same quarter a year ago.
The St. Petersburg electronic components maker said revenue came in at $2.6 billion, down from last year's $3.1 billion. The loss, which the company blamed on restructuring and other costs, amounted to 14 cents per share.
"Although the global economy remains in a recession, we see genuine stabilization across most of our end-markets," president and chief executive Tim Main said in a statement.
Jabil hedged its bets about the prospects of profitability later this year. For the fourth quarter, the company forecasts a loss of 9 cents to a profit of 1 cent per share. Jabil's stock closed up 51 cents to end Tuesday at $7.12.