Jabil on record-breaking pace

Jabil Circuit Inc. maintained its reputation as one of the Gulf Coast's most successful companies in its recent quarter of business, posting revenues and profits that could break company records.

Jabil generated $3.46 billion in revenue in the third quarter of its 2010 fiscal year, which ended May 31. That's nearly a billion dollars gained over last year's $2.62 billion mark.

The revenue gains translated to a net income of $52.69 million — a welcome turnaround from 2009's third quarter loss of $29.24 million.

The company's most recent results prompted Jabil CEO Timothy Main to predict continued successes and unprecedented for the firm.

“Growth is accelerating,” Main explained, “and we now expect fiscal 2010 to be a record year for Jabil in terms of revenue and earnings.”

Main says company management expects revenues to increase between 10% and 16% next quarter, giving Jabil another $3.8 billion to $4.0 billion on the year. The company's efforts in healthcare, so-called “clean tech” and smart phone device components will drive that growth, Main added.

Based in St. Petersburg, Jabil Circuit (symbol: JBL) is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies.