Jabil Circuit to sell aftermarket services; shares fall

Tue Dec 17, 2013 4:23pm EST

Dec 17 (Reuters) - Contract electronics maker Jabil Circuit Inc said it would sell its aftermarket services business for $725 million.

Jabil shares fell 5 percent in extended trading after closing at $19.72 on the New York Stock Exchange on Tuesday.

The company expects the sale of the business to iQor Holdings Inc to close in the third quarter.

Jabil also said net income attributable to the company rose to $117.9 million, or 57 cents per share, in the first quarter, from $105.8 million, or 51 cents per share, a year earlier.

Revenue fell marginally to $4.61 billion.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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