ST. PETERSBURG, FL – Jabil Circuit reported third-quarter profit climbed 48% on a 19% hike in sales. The top tier provider of electronics manufacturing services said May quarter earnings rose to $59.4 million, from $40.1 million a year ago.

Revenue rose 19% to $1.94 billion from $1.63 billion last year.

EBITA was $68.9 million, up from $53.1 million a year ago, in line with consensus earnings.

Jabil guided for fourth-quarter revenue of $2 billion to $2.1 billion, and first-quarter 2006 revenue of $2.2 billion to $2.4 billion, which includes a
larger-than-expected sales to Nokia and a delayed Lucent program.

The company reiterated full fiscal year 2005 revenue guidance of $7.5 billion.

"We expect our growth momentum to continue in our fourth fiscal quarter of 2005 and as we move into fiscal 2006," said president and chief executive Timothy L. Main, in a statement.

For the May quarter, sales were up 13% sequentially, 10% due to organic growth, helped by gains at Nokia and HP. The company did well in the consumer electronics and computing segments while fairing poorly in networking (Cisco) and peripherals (HP).

Cash cycle conversion days fell by two days to 20 days as inventory
turns and DPOs increased. Cash from operations was $190 million, and 
return on invested capital rose to 14.7%.

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