Jabil Results May Point to Weak Quarter for Cisco
Jabil Circuit (JBL) this morning reported pretty good results for its fiscal fourth quarter ended August–but the news nonetheless contains a potentially troubling clue about the state of business at Cisco Systems. (CSCO).
Let’s start with the basics. Jabil posted revenue of $3.26 billion, which was a bit ahead of the Street at $3.24 billion; “core earnings” of 30 cents a share were a penny light, which in this environment is none too shabby for a company in the contract electronics manufacturing business.
For its fiscal first quarter ending in November, the company sees revenue of $3.4 billion to $3.6 billion and core earnings of 30-38 cents a share; the Street had been looking for $3.44 billion and 36 cents.