* Sees Q1 core earnings of $0.51-$0.62/shr vs est $0.67/shr
* Sees Q1 rev $4.3 bln-$4.5 bln vs est $4.52 bln
* Q4 core earnings $0.54/shr vs est $0.58/shr
* Q4 rev $4.34 bln vs est $4.22 bln
Sept 25 Contract manufacturer Jabil Circuit Inc
reported a quarterly profit below analysts' expectations
and forecast weak first-quarter results as it continues to
grapple with low demand in some of its business segments.
The company forecast a 24 percent dip in revenue from its
high velocity segment (HVS) for the current quarter. The
business, which brought in about a third of its revenue last
year, provides module design, manufacturing and repair services
for electronic appliances like printers, set-top boxes and
Jabil Circuit forecast core earnings of 51 cents to 62 cents
per share for the current quarter, below the 67 cents analysts
Its first-quarter revenue forecast of $4.3 billion to $4.5
billion also missed analysts' average estimate of $4.52 billion,
according to Thomson Reuters I/B/E/S.
Jabil expects its biggest revenue segment - diversified
manufacturing - to also underperform in the current quarter as
governments cut back on spending in areas like clean technology.
It expects the segment, which accounted for 45 percent of
its revenue in the fourth quarter, to grow 12 percent in the
In the fourth quarter, it took a charge of $5.9 million over
one of its distressed customers in the solar business, part of
its diversified manufacturing segment.
"Particularly about the solar space, a lot of OEMs are
really struggling on a global basis, be they European, Asian or
North American domiciled. So it's a tough marketplace," Chief
Executive Timothy Main said on a conference call.
The company expects to make strategic acquisitions in the
diversified manufacturing segment, the CEO said.
For the fourth quarter, net income fell to $82.8 million, or
39 cents per share, from $114.3 million, or 52 cents per share,
a year earlier.
It had core earnings of 54 cents per share in the quarter.
Revenue rose marginally to $4.34 billion from $4.28 billion
a year earlier.
Analysts on average expected fourth-quarter earnings of 58
cents per share on revenue of $4.22 billion.
Operating expenses rose 5.5 percent to $173.3 million for
Shares of the company fell 3 percent in after-market trading
on Tuesday after closing at $20.97 on the New York Stock