Second quarter revenues increased 30% for the St. Petersburg-based firm.
ST. PETERSBURG — Jabil Circuit (symbol: JBL) generated $3.9 billion in net revenues in the second quarter of its 2011 fiscal year, up 30% over the year. Its operating income nearly doubled, as did its net income.
Specifically, Jabil's quarterly operating income was $104.6 million, compared to $61.8 million in the same quarter last year. Net income was $55.4 million, up from $29.9 million.
Investors responded to Jabil's reported growth by quickly buying up shares of the company's stock. After closing on Tuesday at a per-share value of $19, Jabil stock was trading up above the $21 mark early Wednesday, for a gain of roughly 11%.
The company set its revenue target for the year's third quarter between $4.1 billion and $4.2 billion in its earnings statement, but supply disruptions at Jabil's Japan operations caused by the recent disaster could impact that goal.