Jabil Completes $200 Million Stock Repurchase Program
27 July 2006
St. Petersburg, FL
ST. PETERSBURG, FL – July 27, 2006 –- Jabil Circuit, Inc. (NYSE: JBL), a global electronic product solutions company, has completed its $200 million share repurchase program which was authorized by its Board of Directors and announced on June 28, 2006. A total of 8,418,700 shares were repurchased at an average price of $23.76 per share. “With our continued commitment to working capital discipline, we have been able to fund strong revenue and earnings growth while providing a return of capital to shareholders through our dividend and completing this share repurchase,” said Forbes Alexander, Jabil’s Chief Financial Officer.
About Jabil
Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Jabil helps bring electronics products to the market faster and more cost effectively by providing complete product supply chain management around the world. With more than 50,000 employees and facilities in 19 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, "JBL". Further information is available on the company's website: jabil.com.
Investor & Media Contact:
Beth Walters
Vice President, Investor Relations
Jabil Circuit, Inc.
(727) 803-3349
investor_relations@jabil.com
This news release contains forward-looking statements, including those regarding the financial impact of the repurchases of our common stock. These statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, but are not limited to: fluctuations in the market price of our stock; fluctuations in operating results; the results of the review of our past stock option grants being conducted by a Special Committee of our Board and Governmental Authorities; the accuracy of the stated dates of our historical option grants and whether all proper corporate and other procedures were followed; the impact of any restatement of financial statements of the Company or other actions that may be taken or required as a result of such reviews; risks and costs inherent in litigation, including that related to the Company's stock option grants or any restatement of the financial statements of the Company; whether or when we will realign our capacity and any such activity will adversely affect our cost structure, ability to service customers and labor relations; our ability to effectively address certain operational issues that have adversely affected certain of our US operations; changes in technology; competition; anticipated growth for us and our industry that may not occur; managing rapid growth; managing any rapid declines in customer demand that may occur; our ability to successfully consummate acquisitions; managing the integration of businesses we acquire; risks associated with international sales and operations; retaining key personnel; our dependence on a limited number of large customers; business and competitive factors generally affecting the electronic manufacturing services industry, our customers and our business; other factors that we may not have currently identified or quantified; and other risks, relevant factors and uncertainties identified in our Annual Report on Form 10-K for the fiscal year ended August 31, 2005, subsequent Reports on Form 10-Q and Form 8-K and our other securities filings. Jabil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.