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Jabil Stock Rises On News Of Increased Profit

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By RICHARD MULLINS | The Tampa Tribune

Published: September 26, 2008

Stock in Jabil Circuit Inc. rose about 2 percent at midday to $10.90 per share in a tough stock market as the company said net income rose almost fivefold compared with 2007, when it took restructuring charges.

The St. Petersburg-based electronics manufacturer posted profit of $57.5 million, or 28 cents a share, in the fourth quarter ended Aug. 31, compared with $ 11.7 million, or 6 cents a share, a year before.

Revenue increased 4 percent to $3.3 billion, compared with $3.1 billion in the same period of fiscal 2007.

"We are pleased to be able to post targeted results this quarter given the challenging macroenvironment," President and Chief Executive Officer Timothy L. Main says in a written statement.

Jabil employs about 75,000 people in dozens of factories around the world, manufacturing electronics for companies such as Hewlett-Packard Co., Nokia and others. In St. Petersburg, it employs about 1,800 people at a headquarters and manufacturing site.

Reporter Richard Mullins can be reached at (813) 259-7919 or rmullins@tampatrib.com.

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