Jabil Circuit's EPS Beat

Citigroup has published a research report for Jabil Circuit Inc. (NYSE: JBL) on EPS and margins.

In the report, Citigroup writes "Jabil reported 4Q'10 (Aug) revenues of $3.86 billion, in-line with consensus at $3.89 billion and the company's guidance of $3.8b to $4.0b. Core EPS of $0.52 is better than consensus of $0.48 and above Citi estimates of $0.50 & above the company's guidance range of $0.45-$0.50. Inventory increased +9.1% q/q or +$161.8m vs. the November outlook for sales of up 1% to 3.6% q/q (+2.3% mid-point) and on a year-over-year basis inventory increased +58% compared to a +26-30% yoy sales outlook. Cash flow from operations was $285m & CapEx was $154m."

Citigroup maintains its Buy rating and $22 price target.

Jabil Circuit Inc. closed yesterday at $13.89.