Jabil Circuit's core loss smaller than expected

Wed Jun 18, 2014 5:29pm EDT

(Reuters) - Contract electronics maker Jabil Circuit Inc (JBL.N) reported a smaller-than-expected core loss for the third quarter, helped in part by lower restructuring charges.

The company, whose top customers include Apple Inc (AAPL.O), Cisco Systems Inc (CSCO.O) and Ericsson (ERICb.ST), reported a core loss of 6 cents per share.

Analysts on average had expected a loss of 9 cents, according to Thomson Reuters I/B/E/S.

Net Income attributable to Jabil rose to $188.3 million, or 93 cents per share, in the third quarter ended May 31, from $50.1 million, or 24 cents per share.

Revenue fell 9.5 percent to $3.8 billion, but beat expectations of $3.60 billion.

The company recorded no impairment of notes receivable, compared with $25.6 million it incurred last year.

Jabil's shares rose 1.5 percent after the bell. The stock closed at $20.10 on the New York Stock Exchange on Wednesday.

(Reporting By Subrat Patnaik in Bangalore; Editing by Maju Samuel)

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