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Jabil Results May Point to Weak Quarter for Cisco

Published on September 26, 2008
by Eric Savitz

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.

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