Jabil Circuit JBL reported a decline in its fiscal fourth-quarter profit and issued downbeat forecast for the fiscal first quarter.
Jabil Circuit's quarterly profit declined to $82.8 million, or $0.39 per share, from $114.3 million, or $0.52 per share, in the year-ago period.
Its revenue came in at $4.3 billion. Excluding one-time items, its core earnings came in at $0.54 per share. However, analysts were expecting earnings of $0.58 per share on revenue of $4.23 billion.
Jabil Circuit expects FQ1 earnings of $0.51 to $0.62 per share on revenue of $4.3 billion to $4.5 billion. However, analysts were expecting earnings of $0.67 per share on revenue of $4.53 billion.
Jabil Circuit shares dropped 4.24% to $20.08 in after-hours trading.
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