ST PETERSBURG, Fla. (AP) _ Jabil Inc. (JBL) on Thursday reported fiscal third-quarter net income of $42.5 million, after reporting a loss in the same period a year earlier.
The St Petersburg, Florida-based company said it had net income of 25 cents per share. Earnings, adjusted for one-time gains and costs, came to 46 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The electronics manufacturer posted revenue of $5.44 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $4.9 billion.
For the current quarter ending in August, Jabil expects its per-share earnings to range from 56 cents to 80 cents.
The company said it expects revenue in the range of $5.2 billion to $5.6 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $5.17 billion.
Jabil shares have climbed 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 4 percent. In the final minutes of trading on Thursday, shares hit $29.63, a drop of slightly more than 3 percent in the last 12 months.