Last $21.04 USD
Change Today -0.30 / -1.41%
Volume 1.9M
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As of 8:04 PM 09/22/14 All times are local (Market data is delayed by at least 15 minutes).

jabil circuit inc (JBL) Key Developments

Jabil Circuit Inc. Enters Revolving Credit Facility Agreement with Citibank, N.A

On July 25, 2014, Jabil Circuit Inc. entered into an amended and restated senior unsecured five year credit agreement. The Agreement provides for a revolving credit facility in the initial amount of $1.5 billion, which may, subject to the lenders' discretion, potentially be increased up to $2.0 billion. The Agreement was entered into among the Company, the initial lenders named therein, Citibank, N.A., as administrative agent, JPMorgan Chase Bank, N.A. and The Royal Bank of Scotland PLC, as co-syndication agents, and Bank of America, N.A. and The Bank of Nova Scotia, as documentation agents.

Jabil Announces Quarterly Dividend Payable on September 2, 2014

Jabil Circuit Inc. announced that its board of directors has approved payment of a quarterly dividend of $0.08 per share to shareholders of record as of August 15, 2014. The dividend is payable on September 2, 2014.

Jabil Circuit Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2014; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2014 and Reiterates Earnings Guidance for the Fiscal Year 2015

Jabil Circuit Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2014. For the quarter, the company announced net revenue of $3,785,875,000 compared to $4,196,224,000 for the same period a year ago. Operating loss was $1,613,000 compared to operating income of $93,128,000 for the same period a year ago. Loss from continuing operations before tax was $34,180,000 compared to income from continuing operations before tax of $61,378,000 for the same period a year ago. Loss from continuing operations, net of tax was $52,888,000 compared to income from continuing operations, net of tax of $39,249,000 for the same period a year ago. Net income was $188,308,000 compared to $49,628,000 for the same period a year ago. Net income attributable to the company was $188,255,000 compared to $50,083,000 for the same period a year ago. Diluted net income per share was $0.93 compared to $0.24 for the same period a year ago. Core operating income (non-GAAP) was $45,349,000 compared to $158,561,000 for the same period a year ago. Core loss (Non-GAAP) was $11,326,000 or $0.06 per diluted share compared to earnings of $98,209,000 or $0.47 per diluted share for the same period a year ago. Core EBITDA for the quarter was approximately $159 million. For the nine months, the company announced net revenue of $11,705,901,000 compared to $12,735,799,000 for the same period a year ago. Operating income was $157,431,000 compared to $379,859,000 for the same period a year ago. Income from continuing operations before tax was $57,723,000 compared to $287,113,000 for the same period a year ago. Loss from continuing operations, net of tax was $16,800,000 compared to $205,796,000 for the same period a year ago. Net income was $267,857,000 compared to $243,301,000 for the same period a year ago. Net income attributable to the company was $267,510,000 compared to $244,463,000 for the same period a year ago. Diluted net income per share was $1.30 compared to $1.18 for the same period a year ago. Net cash provided by operating activities was $409,388,000 compared to $809,681,000 for the same period a year ago. Acquisition of property, plant and equipment was $414,729,000 compared to $452,993,000 for the same period a year ago. Core operating income (non-GAAP) was $265,908,000 compared to $482,849,000 for the same period a year ago. Core earnings (Non-GAAP) were $97,939,000 or $0.48 per diluted share compared to $302,611,000 or $1.46 per diluted share for the same period a year ago. The company provided earnings guidance for the fourth quarter of fiscal 2014 and reiterated earnings guidance for the fiscal year 2015. For the quarter, the company expects to report net revenue between $3.7 billion and $3.9 billion, GAAP operating income between loss of $3 million to income of $47 million, GAAP net diluted loss per share between $0.30 and $0.05 per diluted share, core operating income between $40 million and $80 million, core earnings per share between loss of $0.10 per diluted share to income of $0.10 per diluted share. Consistent with the company’s discussion of last quarter, it expects total capital expenditures to track to $350 million for the full fiscal year. Core operating margin expected to be in the range of 1.1% to 2.1%. Interest expense is estimated to be $32 million, while tax dollars are estimated to be $30 million. Management maintains its fiscal year 2015 outlook of $1.65 to $1.95 core earnings per share. The company would anticipate its tax rate to return to historical levels for the period of fiscal 2015.

Jabil Circuit Seeks Acquisitions

Forbes Alexander, Chief Financial Officer of Jabil Circuit Inc. (NYSE:JBL), said, "We're well-positioned as we move towards fiscal 2015. Our balance sheet is strongly positioned to provide both financial and strategic optionality, positioned to support the business with further investment, seek acquisitions, which will continue to enhance our capabilities in key areas, and return capital to shareholders via our ongoing dividend and stock repurchase programs."

Jabil Circuit Inc. to Report Q3, 2014 Results on Jun 18, 2014

Jabil Circuit Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Jun 18, 2014

 

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