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Press release from Business Wire

Jabil Completes Previously-Announced Stock Repurchase

Wednesday, August 24, 2011

Jabil Completes Previously-Announced Stock Repurchase09:25 EDT Wednesday, August 24, 2011 ST. PETERSBURG, Fla. (Business Wire) -- Jabil Circuit, Inc. (NYSE: JBL) announced today the completion of the $200 million repurchase of its common stock. Jabil announced the repurchase program on June 21, 2011. Under the completed repurchase program, a total of 11,520,137 shares of common stock were repurchased at a weighted average cost of $17.36 per share and an aggregate cost of $200 million. The recent turbulence of the stock market afforded Jabil to opportunity to take full advantage of its stock repurchase program. “We are pleased to have completed the entire repurchase program during our fourth fiscal quarter of 2011. We expect cash flow will continue to support investment in the business along with return of capital to shareholders through dividends and periodic share repurchases,” said Forbes Alexander, Chief Financial Officer. About JabilJabil 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 85,000 employees and facilities in 22 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: http://www.jabil.com.This news release contains forward-looking statements, including those regarding our expectation that our cash flow will continue to support investment in the business along with return of capital to shareholders through dividends and periodic share repurchases.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 operating results and cash flows; changes to our business strategy; our board of directors deciding to not declare dividends or authorize stock repurchases; adverse changes in current or future macro-economic conditions, both in the U.S. and internationally; our financial performance during and after the current economic conditions; our ability to maintain and improve costs, quality and delivery for our customers; risks and costs inherent in litigation; whether our realignment of our capacity will adversely affect our cost structure, ability to service customers and labor relations; our ability to take advantage of perceived benefits of offering customers vertically integrated services; 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 and divestitures; 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, 2010, 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. Jabil Circuit, Inc.Investor & Media Contact:Beth Walters, 727-803-3349Senior Vice President, Investor Relationsinvestor_relations@jabil.com