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St. Pete's Jabil Circuit Reports Disappointing Outlook

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The Associated Press

Published: December 19, 2008

Electronic parts manufacturer Jabil Circuit Inc. said Friday it expects fiscal second-quarter earnings, excluding items, of 12 cents to 16 cents per share, which is below Wall Street's expectations.

The company forecast earnings of 4 cents to 8 cents per share on sales of $2.8 billion to $3 billion for the quarter, which ends in February.

Analysts, on average, are expecting a profit of 20 cents per share on sales of $3.07 billion, according to a survey by Thomson Reuters.

"We are taking a conservative position regarding demand for our second quarter," said President and Chief Executive Tim Main in a statement. "Although end markets are weak, the opportunity to expand our market share in targeted areas is very good."

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