Jabil Circuits (JBL)

[EZ2]

sounds good to me.....now, if I only knew what it meant !! :)

http://biz.yahoo.com/iw/020916/046374.html

[EZ2]

Jabil to Close Down Its Idaho Plant

MERIDIAN, Idaho, Sep 10, 2002 (AP Online via COMTEX) -- Jabil Circuit Inc. will lay off 500 workers by the end of the year and close its southwestern Idaho manufacturing plant, company officials confirmed on Tuesday.

A company spokeswoman said demand for Jabil's telecommunications and networking products has dwindled. Jabil, which employs 17,000 worldwide, targeted the Meridian plant for closure because of performance issues.

"The three things that we considered were its historical performance, its manufacturing capabilities and its organizational depth," Lisa Allison said from the company's headquarters in St. Petersburg, Fla.

The Meridian plant makes printed circuit boards for telecommunications products.

Most of the jobs affected are in manufacturing, Allison said, though some engineering and management jobs also will be eliminated.

The news was another blow to Idaho's economy. For several years, the state's rural areas have suffered increasing unemployment amid the national recession.

Even in Ada County, where Meridian has been one of Idaho's fastest-growing cities, joblessness has been steadily increasing. Ada County lost 1,000 jobs over the past year.

[EZ2]

'cha-ching' !! :)


UPDATE 1-Quantum to cut 1,100 jobs, sets charges

(Adds details, background)

MILPITAS, Calif., Sept 9 (Reuters) - Data protection and network storage systems maker Quantum Corp. (DSS) said on Monday it is cutting 1,100 jobs, roughly one-third of its work force, and taking charges as part of a restructuring because of a weak market.

The company, whose chief executive is former Microsoft Corp. (MSFT) president Richard Belluzzo, said the restructuring, for which there will be special charges of around $100 million, will take place in two phases over the next two quarters.

It will involve outsourcing manufacturing, consolidating development teams and sites, and adjusting for a lower level of revenue, the company said.

As a result, Quantum expects to reduce its pro forma operating expenses, excluding amortization of goodwill and restructuring expenses, by about 20 percent by the end of its fiscal year in March 2003, from the $82 million level it reported at the end of June.

Quantum said "slightly less than half" of the charges would be cash-based. Charges from the first phase are expected to be $60 million to $75 million and will be reflected in the company's fiscal second-quarter results.

The charges for the second phase are yet to be determined, the company said, but will be announced within 90 days and will be included in Quantum's fiscal third-quarter results.

The first restructuring phase will eliminate about 1,100 positions, the company said. A spokeswoman told Reuters the company's workforce currently stands at just over 3,000.

Of that, about 80 percent is related to an agreement announced last week with contract manufacturer Jabil Circuit Inc. (JBL), under which Jabil will manufacture tape drives for Quantum.

Quantum said the cash charges would be offset in part by $11 million in revenue from the sale of its venture portfolio and $30 million in inventory and asset purchases by Jabil.

Quantum reported a first-quarter net loss in July, and said revenue for the quarter totaled $2611 million, down from $279 million a year earlier.

Quantum shares fell 21 cents, or 6.5 percent, to $3.01 in Monday trading on the New York Stock Exchange. The shares are down about 69 percent for the year.

[EZ2]

U da' Man !!!!!!!!! :)

[OldAIMGuy]

Hi EZ, JBL's coming into target range for my first Inventory Adjustment in a long time.

Best regards, Tom

[EZ2]

nice day, Tom !!

Real Time as of 09/06/2002 3:20pm
JBL JABIL CIRCUIT INC

Last [Tick] 19.39[ + ]
Change 1.07
% Change 5.84%
Bid 19.36
Ask 19.39
Open 19.31
Volume 1,400,400

[OldAIMGuy]

Hi EZ, Lots of RED bleeding through my ticker today.

Best regards, Tom

[EZ2]

Tom ------ how well I know !!!! :(

http://www.investorshub.com/boards/read_msg.asp?message_id=485182

[OldAIMGuy]

Hi EZ, Keith Felkins posted on SI that JBL got a nice upgrade today. I think it's now rated a "strong buy" by someone.

Overall the market looking like someone's in a strong sell mode! NASDAQ and NYSE both off 3% this AM.

Best regards, Tom

[OldAIMGuy]

Hi EZ, That's a huge piece of business and looks like a lot of production capacity as well. So far JBL's been a pretty good manager of "other people's" factories when they've taken over. Let's hope they're equal to this task, too.

Best regards, Tom

[EZ2]

Dow Jones Business News
Stock Rating Reiterations Closing Update: NT MBG PLCM
Wednesday August 28, 4:42 pm ET


Rating reiterations for Aug. 28 from Briefing.com:

Company Symbol Brokerage Firm Reiteration

Nortel NT Wells Fargo Securities Hold
Mandalay Resort MBG Credit Lyonnais Securities Buy
Polycom PLCM RBC Capital Markets Top Pick
AstroPower APWR Wedbush Morgan Hold
Nextel NXTL Thomas Weisel Buy
Medicis MRX Thomas Weisel Strong Buy
Business Objects BOBJ Pacific Growth Equities OverWeight
Sonic Solutions SNIC WR Hambrecht Buy
Jabil Circuit JBL Brean Murray Strong Buy

[EZ2]

KEWL !!!!!!!!!!!

EZ :)

[OldAIMGuy]

Hi EZ, Fellow JBL investor, Keith "Lemonhead" posted this earlier today:

http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17926930

Best regards, Tom

[OldAIMGuy]

Hi EZ, I don't know Taiwan Semi. I noticed it got a favorable mention in BARRONS two weeks ago in their article titled, "IS IT SAFE?" (page 25, I believe).

The article talked about companies with rosy two year investment time horizons.

Best regards, Tom

[EZ2]

Thanks Tom ----- I thought I saw some of the "short" data on JBL within past month or so......but, cannot remember WHERE I saw it.....poke around and see if I can find it.....if so, I will post.

JBL starting to show a bit of life.......but, sector news tends to drive UP/DOWN....(guess that describes a bunch of others too ~~~ LOL)

Are you / have you given any thoughts to semi sector.....specifically TSM ???

[OldAIMGuy]

Hi EZ, I've not checked short interest on JBL for a long
time. I have a source for NASDAQ shorts on-line, but not
the NYSE. Here's the other two -

SANM

 
 DATE     SHARES SHORT      AVE. VOL.    RATIO 
 07/02     14,695,682       7,648,561     1.92   
 06/02     17,566,960       8,356,304     2.10    
 05/02     19,866,673       8,937,259     2.22    
 04/02     16,501,256       7,305,735     2.26    
 03/02     17,876,828      11,453,595     1.56    
 02/02     17,283,328      13,608,154     1.27  
 

AND FLEX

 
 07/02      7,282,143      13,173,000     0.55    
 06/02      5,984,523      12,996,255     0.46   
 05/02      6,139,225      10,158,109     0.60  
 04/02      9,774,284       9,596,825     1.02   
 03/02     14,264,443      16,028,095     0.89  
 02/02     17,338,743      12,189,796     1.42  
 

Sorry I don't have JBL's. It looks like now that SANM's SCI
merger is settling down that shorts are diminishing a bit.
FLEX eliminated much of the short position earlier this
year and since has been more stable. Trade volume is
actually more interesting between these two companies. After
FLEX's shorts were pretty well covered, volume started to
pick up again. SANM's volume has been drying up.

I guess I'm just trying to find some new tea leaves to read.
In the mean time, I'm content with this most recent
improvement in JBL's price/share. Nibbled away when the
price was down, so have some inventory which can be sold
profitably in the low $20s.

Best regards, Tom

[OldAIMGuy]

Hi EZ, I can't explain the differential. JBL's going to earn more this year, so with the same general P/E it should be higher in price. It would appear that SANM and FLEX both may have flown "closer to the Sun" so had further to fall. They all have similar 52 week highs, but currently JBL is at about 2/3rds of its high where FLEX is at about 1/3rd and SANM is at about 1/5th of its year's high.

Best regards, Tom

[EZ2]

cha-ching ----- worked fine !!

WOW....at first glance, looks to me like SANM/FLEX are
victims of the broader "NASDQ" meltdown ------ technically or
fundamentally is there anything SIGNIFICANT missing ????

Hmmmmmmmmmmmmm !!!

[OldAIMGuy]

Hi EZ I guess the shorthand here won't translate to SI's site.

Click on the link and add JBL, SANM and FLEX to the graph in the spaces near the bottom of the page. Then change the time frame to 50 weeks.

Sorry for the confustion.

Best regards, Tom

[OldAIMGuy]

Message deleted by author......

[EZ2]

Tom --- chart would not load........but, you
got my interest !!!! Hope all's well !!!!

EZ :)

p.s. Any thoughts on AMG ???

[OldAIMGuy]

Is there something I'm missing here?.............
http://www.siliconinvestor.com/research/comp_chart.gsp?cs=JB...

A friend told me of a pep talk his high school football coach gave the team once. Their team was win-less for the season and at half time of the final game they were behind by three touchdowns. His coach said,

"To come from Way Behind first you have to Be Way Behind!"

Is this the case for SANM and FLEX? Is JBL's business model that much better? It looks at though SANM and FLEX earnings estimates aren't that different from JBL's. Has JBL just maintained value better being a NYSE stock where the others are "four letter stocks?"

Best regards, Tom

[EZ2]

ROCK ON !!!!!!!!!!!!!!!

Wednesday June 19, 11:15 am Eastern Time

Reuters Company News
Jabil shares jump after strong earnings report

LOS ANGELES, June 19 (Reuters) - Shares in contract electronics manufacturer Jabil Circuit
Inc. (NYSE:JBL - News) jumped on Wednesday after the company reported slightly higher
quarterly profits and forecast growth in almost all of its businesses in the current quarter.

Jabil shares were up $1.78, or 9 percent, at $20.93 in morning trade on the
New York Stock Exchange.

After the NYSE closed on Tuesday, the company reported a profit for its
fiscal third quarter, ended May 31, of $20.8 million, or 10 cents per share, up
from $18.8 million, or 9 cents per share, a year earlier.

Earnings excluding one-time items were slightly above the average Wall
Street estimate. Jabil forecast fourth-quarter earnings in line with estimates.

Jabil, based in St. Petersburg, Florida, said that with the exception of the
battered telecommunications market, all of its business segments, including
computer manufacturing and automotive equipment, would be flat to higher
in the fourth quarter compared with the third quarter.

Analysts were generally pleased with Jabil's third-quarter results.

Lehman Brothers analyst Louis Miscioscia said in a client note on Wednesday, "With many investors searching for well executing
tech companies, we would suggest that we have one right here." He reiterated a "strong buy" rating on the stock.

Bear Stearns analyst Thomas Hopkins reiterated his "buy" rating and said that in fiscal 2003 the company would be able to
continue to improve margins.

Deutsche Bank analyst Chris Whitmore was not as optimistic. He maintained a "market perform" rating on the stock and
questioned the company's strategy of acquiring new facilities rather than adding production to existing plants.

"Since March 2002, the company has announced (four) major asset acquisitions and appears hungry for more," he said in a client
note. "We believe this acquisitive strategy could lead to deteriorating margins/returns and future restructuring for Jabil."

On Tuesday, Jabil said it would take just such a restructuring charge in the current quarter -- between $25 million and $28 million
-- to account for consolidation of two facilities in England.

[EZ2]

OK.....onward & upward !!!!!!!

http://biz.yahoo.com/rc/020618/tech_jabil_earns_4.html

http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&gui....

[OldAIMGuy]

Hi EZ, Nice to know they're not all just sleeping in late in St. Petersburg!

Best regards, Tom

[EZ2]

Cha-Ching !!!!!!!! :)

Lucent Technologies and Jabil Circuit Sign Agreement For Optical Line System Manufacturing Business in Shanghai

SHANGHAI, China, May 23, 2002 /PRNewswire-FirstCall via COMTEX/ -- Lucent Technologies China and its joint venture partners in Lucent Technologies of Shanghai (LTOS) have agreed to sell the venture's manufacturing assets to Jabil Circuit Inc., a leading electronics manufacturing services company based in the U.S. Lucent Technologies and Jabil Circuit have also signed a supply agreement whereby Jabil will produce optical transmission equipment for Lucent.

Lucent and joint venture partners Shanghai Optical Communication Corp; Shanghai Post & Telecommunication Equipment Ltd; and Shanghai Jiushi Corp. formed LTOS in 1989 to produce optical transmission equipment for the regional market. Since its founding LTOS has grown to about 500 employees, all of whom will be offered employment by Jabil. Under the agreement Jabil will acquire the LTOS 325,000-square-foot manufacturing facility and production machinery and inventory.

"The agreement with Jabil and our business partners in Shanghai is a result of Lucent's strategy of growing our relationship with major contract manufacturers such as Jabil so Lucent can focus its resources on meeting the advanced communications networking needs of the world's largest service providers," said Steve Sherman, Lucent vice president of manufacturing strategy. "This agreement supports that strategy while providing opportunities for our employees and keeping the presence of a high-tech manufacturing operation in the city of Shanghai."

The agreement is expected to be completed this summer.

About Lucent Technologies

Lucent Technologies, headquartered in Murray Hill, N.J., USA, designs and delivers networks for the world's largest communications service providers. Backed by Bell Labs research and development, Lucent relies on its strengths in mobility, optical, data and voice networking technologies as well as software and services to develop next-generation networks. The company's systems, services and software are designed to help customers quickly deploy and better manage their networks and create new, revenue-generating services that help businesses and consumers. For more information on Lucent Technologies, visit its Web site at http://www.lucent.com.

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X78875049

SOURCE Lucent Technologies

CONTACT: Eric Xu - Lucent Technologies - China, [phone],
ext. 5697, or [e-mail]; or Mary Ward - Lucent Technologies - U.S.,
[phone] (office), or [phone] (home), or [e-mail]

URL: http://www.lucent.com
http://www.prnewswire.com

Copyright (C) 2002 PR Newswire. All rights reserved.


KEYWORD: China
INDUSTRY KEYWORD: TLS
CPR

[OldAIMGuy]

Hi EZ,

AIM for Prophets!

Mr. Lichello helped me once more!

Best regards, Tom

[EZ2]

Live Long......and PRO$PER !!!!!!!!!!!!!

EZ :)

[OldAIMGuy]

Hi EZ, It took a few days, but we liberated a few shares in one of the accounts. $24.50 crossed the ticker and took my beloved shares away at a meager 34% LIFO gain in about a week.

Gee, I hope I do better with the rest.



Best regards, Tom

[OldAIMGuy]

Hi EZ, Yes, runs in spurts and then gets out of breath for a while. Hope it gets some O2 into the system!

Best regards, Tom

[EZ2]

whoops......forgot this little blurb from email:

Cisco's upbeat report lifted contract manufacturing companies, for whom Cisco is a major customer. Flextronics International Ltd. (FLEX) gained $1.85 to $14.40, Solectron Corp. (SLR) gained 81 cents to $8.11, Sanmina-SCI Corp. (SANM) rallied $1.56 to $11.36, Celestica Inc. (CLS) jumped $3.11 to $28.60 and Jabil Circuit Inc. (JBL) chugged ahead $3.50 to $21.25.

Investors were pouring money back into the broader tech sector as well, taking advantage of recent sharp declines, traders said.



EZ :)

[EZ2]

Tom -- nice little bounce for the day.......KUDOS
to you on that recent buy~~~~~~~ lookin' very good !!!
If we get some positive results / promising guidance
from a couple of other "JBL" customers.......Yahoo !!!!!!!!

As we both know, this one tends to run in spurts !!

EZ :)

[OldAIMGuy]

Hi EZ, Of Blind Squirrels and such! Price has held up pretty well so far today, up nearly 18% near the close.

I'm sure all the W$ Traders are going to be thinking a lot on their rides back to Connecticut on tonight's train. Did you see the volume on the Q's? Over 100MM shares of just that! QCOM also over 100MM shares.

I'm old enough to remember when there weren't 100MM shares traded on the entire exchange let alone one stock!

Best regards, Tom

[EZ2]

YOU da' Man !!!!!!!!!!!!!!!!!!!!!!!!!!



EZ :)

[OldAIMGuy]

Hi EZ, By pure dumb luck, yesterday was my day to add to my JBL holdings. Stuffed the shelves of the Equity Warehouse with 20% more shares at $18.25 around mid-day.

As of this AM, that purchase is looking pretty smart!


I've already calculated where I'll start to sell some inventory. I'll let about 5% of the holding go at $24.35.

How's that for counting chickens before they hatch!!!

Best regards, Tom

[OldAIMGuy]

Hi EZ, I could use a bit of "outperformance!"

Thanks,
TV

[EZ2]

UPDATE: Ratings Change for Jabil Circuit Inc, Duke Energy Corp, Sepracor Inc, Apple Computer Inc, Procter & Gamble Co

SHREVEPORT, La., Apr 25, 2002 (BUSINESS WIRE) -- EquityOutlook.Com (CRD#118718) - www.equityoutlook.com - evaluates the following stocks: (Get FREE ratings at http://www.equityoutlook.com/index.htm)

Jabil Circuit Inc (JBL) - Outperform
Duke Energy Corp (DUK) - Outperform
Sepracor Inc (SEPR) - Outperform
Apple Computer Inc (AAPL) - Underperform
Procter & Gamble Co (PG) - Outperform
WHAT THESE RATINGS MEAN:

These stocks are rated with a proprietary system of technical analysis. These ratings do not indicate a "long term" view of any company listed. These are ratings that indicate our opinion of a stock's PRICE movement versus the SP 500 over the short term. "Mainstream wallstreet" implores traders to "buy and hold". This strategy proves at times to be DISASTROUS. We believe that traders should find entry and exit positions over the short term to take profits or conserve capital.

Investors can find more ratings at: www.equityoutlook.com/index.htm Investors that want a TRULY unbiased stock rating service should visit: http://www.equityoutlook.com/reports.htm

Disclaimer: EquityOutlook.Com (a StockLogix.Com, LLC company) is a registered investment adviser in the State of Louisiana (CRD#118718). No information accessed through the EquityOutlook.Com, or any link contained on the EquityOutlook.Com Web site, constitutes a recommendation by EquityOutlook.Com to buy, sell or hold any security, financial product, or instrument discussed therein. Information accessed through linked sites neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy or sell securities by EquityOutlook.Com. EquityOutlook.Com does not hold positions in securities being discussed in this news release and/or mentioned on the EquityOutlook.Com Web site. Investors shall be fully responsible for any investment decisions they make, and such decisions will be based solely on their evaluation of their financial circumstances, investment objectives, risk tolerance and liquidity needs. Investors are encouraged to consult with their registered broker and/or investment adviser before making any investment decision.

CONTACT: EquityOutlook.Com
Chester T. Kelley, 318/212-0640

URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.

Copyright (C) 2002 Business Wire. All rights reserved.


KEYWORD: LOUISIANA
INDUSTRY KEYWORD: use
companies
industries
SOURCE:
EquityOutlook.Com

[OldAIMGuy]

Thanks eZ,

I'd read of the expected purchase, but hadn't seen the news on the actual deal.

Best regards, Tom

[EZ2]

Thursday April 25, 6:18 am Eastern Time
EU Oks Jabil Acquisition Of Alcatel Manufacturing Unit

BRUSSELS -(Dow Jones)- The European Union Commission Thursday approved Jabil Circuit Inc.'s (JBL) acquisition of Alcatel (NYSE: ALA - news) SA's (ALA) telephone-exchange plant in Brest, France .

Financial terms weren't disclosed.

The deal is part of the French telecom giant's strategy to outsource much of its manufacturing and focus on its core operations - research and development, and marketing and sales.

"It became critical for Alcatel to find a partner that contributes manufacturing and purchasing power," said Olivier Houssin, president of Alcatel 's e-Business Group. "This outsourcing agreement is the best option for the development of the factory."

The purchase includes a three-year renewable agreement under which Jabil will take over the factory in Brest and its 700 employees, as well as supply Alcatel with Private Branch Exchanges, or PBX, and Private Communication Exchanges, or PCX, units.

A PBX is a telephone system that switches calls between users on local lines while allowing all users to share a certain number of external telephone lines. The PCX does the same, but also provides Internet access.

In July 2001 , Alcatel completed the outsourcing of its cell telephone factory to Singapore -based Flextronics International Ltd. (FLEX). Last month, it received E.U. approval to sell three of its plants to U.S. electronics giant Sanmina-SCI Corp. (SANM).

Jabil Circuit makes circuit boards and systems for electronic products. It operates 22 manufacturing facilities in 12 countries. Jabil had a fiscal 2001 revenue of $4.3 billion and net profit of $144 million.

The deal was approved under the Commission's simplified antitrust procedure. This clears mergers or acquisitions after one month if no objections are raised by third parties.



(This story was originally published by Dow Jones Newswires)
Copyright (c) 2002 Dow Jones & Company, Inc.
All Rights Reserved

[OldAIMGuy]

Hi Ez, Don't know it. I'll look it up.

TV

[EZ2]

G/M Tom ~~~~ ya, watching it like a hawk.....and also
a bit disappointed that JBL can't "rise above the noise" !!
Just a really really skittish market right now ----- you
can define "now" ------ seems like it's been an EXTENDED
now since late 1999 !!! :)

Tom, any thoughts on SVNX ??

EZ

[OldAIMGuy]

Hi EZ, JBL has been again testing the $20 level. With so many companies posting losses, JBL should stand out as a winner with profits. This whole sector is way off with FLEX, SANM, SOCM, etc. all in the toilet.

I last bought some more shares just below $20 a bit. I'll wait until a better price than that before I add more.

Best regards, Tom

[EZ2]

nice little JBL pop this morning.......unfortunately,
just re-tracing ~~~~~ but, I'll take it !!!!
EZ :)

[OldAIMGuy]

Hi EZ, AKSY now just has to figure out how to make and sell the things!


Maybe they should sub contract it to JBL!

Sorry I've not followed that particular development. It sounds like it would have been a fun one to play with while watching the ups and downs. I have one that is also in the hands of the FDA gods - or will be soon. Fun living on the EDGE!

JBL looked pretty good this AM. Touched over $24 for a brief moment or two.

Best regards, Tom

[EZ2]

OT: Tom
Any AIM insights on AKSY ??
EZ
======================
Thursday March 28, 11:09 am Eastern Time
Aksys' Shares Soar on FDA Approval of Personal Dialysis System

Investors snapped up shares of Aksys Ltd. Thursday following news that the Food and Drug Administration had approved the medical-device maker's personal hemodialysis system without any restrictions.

ADVERTISEMENT


The FDA approval follows months of delay. The dialysis system, which allows people with kidney failure to perform short daily dialysis at home, is Aksys' only product. It has been in development for 10 years.

Aksys announced the news late Wednesday. At that time, the company said the FDA clearance had no restrictions and included the authorization to use the product in the home.

In early trading on the Nasdaq Stock Market, shares of Aksys, Lincolnshire, Ill. , soared $3.32, or 73%, to $7.88. Last week, the company's stock dropped 17% , or 84 cents, to $4.16 on speculation that the FDA wouldn't approve the kidney- dialysis machine for home use.

Aksys said Wednesday that shipments should start sometime in the third quarter, and said the initial launch will focus on the northwestern and midwestern regions in the U.S.

The company said studies have shown that more frequent dialysis is beneficial to dialysis patients and lowers the total cost associated with treating chronic kidney disease. The company said its PHD system provides a cost-effective way to make these benefits available to people with end stage renal disease.

A representative from the company wasn't immediately available Thursday for comment. Analysts also couldn't be reached.

-- Amy Braunschweiger of Dow Jones Newswires contributed to this article.

[EZ2]

still smilin' !!!!

Real Time as of 03/28/2002 11:12am
JBL JABIL CIRCUIT INC

Last [Tick] 23.80[ + ]
Change 0.96
% Change 4.20%
Bid 23.73
Ask 23.79
Open 22.70
Volume 621,200

[OldAIMGuy]

Hi EZ, I think the short interest is something to keep an eye on while the market's bottoming out. When we see a move up in price that sticks, chances are we'll start to see the short position start to change.

Best regards, Tom

Here's where I go for NASDAQ short interest:
http://www.viwes.com/invest/shorts/query.cgi
Wish they'd expand to the NYSE issues as well.

Best regards, Tom

[EZ2]

pretty consistent for the past 3 months.........
http://www.nasdaq.com/asp/quotes_full.asp?selected=jbl&kind=shortint&symbol=ERTH%60&symb...

[EZ2]

Jabil Circuit Announces Manufacturing Partnership With Valeo

Updated: Monday, March 25, 2002 01:55 PM ET


ST. PETERSBURG, Fla.--(BUSINESS WIRE)--March 25, 2002--Jabil Circuit, Inc. (NYSE:JBL, news, msgs) announced today a manufacturing partnership with
Valeo which includes the acquisition of certain manufacturing assets and a three year supply agreement. This project has been submitted for consultation to
the European Works Council.

Subject to employee consultation and execution of definitive contracts and agreements, Jabil will acquire Valeo's electronics manufacturing operations in
Meung-sur-Loire, France and Wemding Germany. Valeo will also transfer electronics manufacturing production from its Switches & Detection Systems
operation in Fort Worth, Texas and its Valeo Electrical Systems Inc., Juarez, Mexico facility to the Jabil Automotive Group operations in Chihuahua, Mexico.

Jabil will gain 90,000 square feet of manufacturing capacity in France and 15,000 square feet of manufacturing capacity in Germany to be dedicated to
automotive electronics production. Under the proposed terms of the deal, approximately 950 Valeo employees will become employees of Jabil Circuit.

Jabil will manufacture a broad base of automotive electronics for Valeo products and integrated systems, including body controllers, various sensor and
switch assemblies, vehicle access and immobilizing, lighting, climate control, wiper and cooling systems.

The combined annual revenues anticipated under the supply agreement are estimated to be $300 million. Other financial terms of the transaction were not
disclosed.

"We believe this strategic manufacturing partnership with Valeo will set the standard for electronics manufacturing in the global automotive industry," said
Brian Althaver, Jabil Automotive Group Vice President. "This partnership represents a major milestone in our strategy to increase Jabil's participation in the
global market for automotive electronics. The acquisition of the French and German operations will significantly expand our base of manufacturing for the
automotive industry in Europe." Althaver said that Jabil would establish a regional `Center for Automotive Excellence' in Meung-sur-Loire.

Jabil Circuit Inc.

Jabil Circuit, Inc. is an electronic manufacturer of circuit board assemblies and systems for global electronics product companies. Jabil offers manufacturing
and assembly services, including: circuit design, board design from schematic, prototype assembly, volume board assembly and system assembly services.
The company operates manufacturing facilities in 22 locations in 12 countries around the world. More information on Jabil can be found on its website:
http://www.jabil.com.

Valeo

Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for cars and
trucks. Valeo ranks among the world's top automotive suppliers. The Group has 143 plants, 53 R&D centers, 10 distribution centers and employs 70,000
people in 25 countries worldwide.

This news release contains various forward-looking statements, including those regarding Jabil's anticipated negotiation, documentation and consummation
of the transaction described below and the potential benefits to Jabil from this transaction. These statements are based on Jabil's current expectations,
forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and
uncertainties include: the ability to negotiate and enter into acceptable binding, definitive documentation setting forth the specific terms of the transaction
described above; the length and severity of the current economic downturn and Jabil's ability to manage customer demand through the downturn;
fluctuations in operating results; changes in technology; competition; managing rapid growth; managing rapid declines in customer demand; managing the
integration of businesses we acquire; risks associated with international sales and operations; retaining key personnel; our dependence on a limited number
of customers; the consolidation of our customer base; business and competitive factors generally affecting the electronic manufacturing services industry,
our customers and our business. There are also other risk 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, 2001, any 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.


CONTACT: Jabil Circuit, Inc., St. Petersburg
Lisa Allison, 727/803-3314
[e-mail]

[OldAIMGuy]

Hi EZ, I have Limit orders in place to sell the first part of the inventory. I usually sell in 5% to 10% lots of the total position. It's worked well over time. Takes some money off the table and lets the rest ride for longer term.

The main benefit is that it caps the value at risk in a rising market to essentially a fixed amount. When the value rises much beyond that control point, I sell off the surplus and bring the value at risk back to about where it was. It helps me keep my head in a bull market and keeps me from losing my arse in a bear market!


Best regards, Tom