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Profit Surges In 4th Quarter For St. Pete's Jabil

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By RICHARD MULLINS

The Tampa Tribune

Published: September 27, 2008

TAMPA - Stock in Jabil Circuit Inc. rose 30 cents Friday to $10.99 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 said in a written statement.

Jabil, which employs about 75,000 people in dozens of factories around the world, manufactures 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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