Jabil Circuit (JBL) this afternoon reported better-than-expected results for its fiscal third quarter ended May 31.
For the quarter, Jabil posted revenue of $3.5 billion, up from $2.6 billion a year ago, and ahead of the Street at $3.2 billion. Core EPS was 40 cents a share, ahead of the Street at 33 cents.
For FY Q4, the company sees revenue of $3.8 billion to $4 billion, and core profits of 45-50 cents; the Street has been expecting $3.4 billion and 38 cents.
The company expect record profits and revenues for FY 2010.
Update: Jabil also said it has signed a letter of intent to divest its remaining operations in France and Italy, which includes four sites and about 1,500 employees. The company said the transaction is expected to close in the fiscal fourth quarter, subject to final negotiations. The company said it will take a loss on divested operations of about five cents. The company did not name the buyer for the assets.
In late trading, JBL is up $1.11, or 8.2%, to $14.70.
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