ST. PETERSBURG, FL -- Jabil Circuit Inc. yesterday reported net earnings rose 59% on a 25% jump in sales for its fiscal fourth quarter. Jabil, a top-tier electronics manufacturing services provider, said net income was $70.5 million, in the August quarter, and revenue was $2.04 billion.

Sales were in line with the company's June guidance.

Jabil's cash conversion cycle dropped by two days sequentially, to 26 days, and was down nine days year-over-year. Inventory turns fell moderately.

Return on invested capital rose to 17%, up five points versus a year ago.

Cash from operations was $173 million for the quarter and $590 million for the year.