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RealTime IT News

Jabil Meets Forecasts

Jabil reported quarterly results and guidance late Monday that were in line with expectations.

Jabil, whose customers include such big names as Cisco Systems , Dell , HP , Intel , Lucent and Nokia , reported August quarter earnings of 37 cents a share, a penny ahead of analysts' estimates.

Net revenues rose 25% to $2.04 billion, just under Wall Street's expectations of $2.05 billion in sales.

Looking ahead, Jabil said it expects November quarter earnings of 40-44 cents a share on sales of $2.2-$2.4 billion, straddling analysts' estimates.

Jabil shares slipped 1% after hours after rising 2.3% during the day.

Stocks rose modestly on Monday, their gains held in check by rising oil prices after Hurricane Katrina shut down Gulf oil production over the weekend.

The Nasdaq rose 4 to 2121, the S&P edged higher to 1215, and the Dow added 24 to 10,443. Volume rose to 2 billion shares on the NYSE, but declined to 1.58 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 55% on the NYSE, and 60% on the Nasdaq. New highs-new lows were 117-68 on the NYSE, and 92-38 on the Nasdaq.

Paychex gained 3.4% on an upgrade, while RF Micro fell 4% on a downgrade.

Research In Motion slipped 1% on competition from Palm and Microsoft .