Exhibit 99.1

Jabil Reports Solid Second Quarter Results
Fiscal Year on Track to Exceed Long-Term Growth Targets

St. Petersburg, FL — March 22, 2011...Jabil Circuit, Inc. (NYSE: JBL), reported its preliminary, unaudited financial results for the second quarter of fiscal 2011, ended February 28, 2011. “We are pleased with the results for the second quarter and first half of fiscal 2011,” said Timothy L. Main, President and CEO of Jabil. “Year over year revenue growth in the second quarter and for the first half of fiscal 2011 exceeded 30 percent. We believe this underscores our ability to deliver sustainable long-term growth.”

Second Quarter 2011
Net revenue for the second quarter of fiscal 2011 was $3.9 billion compared to $3.0 billion for the same period of fiscal 2010.

GAAP results:
GAAP operating income for the second quarter of fiscal 2011 was $104.6 million compared to $61.8 million for the same period of fiscal 2010.

GAAP net income for the second quarter of fiscal 2011 was $55.4 million compared to $29.8 million for the same period of fiscal 2010.

GAAP diluted earnings per share for the second quarter of fiscal 2011 was $0.25 compared to $0.14 for the same period of fiscal 2010.

Core results:
Core operating income for the second quarter of fiscal 2011 was $168.4 million or 4.3 percent of net revenue compared to $95.6 million or 3.2 percent of net revenue for the same period of fiscal 2010.

Core earnings for the second quarter of fiscal 2011 were $118.8 million compared to $63.3 million for the same period of fiscal 2010.

Core diluted earnings per share for the second quarter of fiscal 2011 was $0.54 compared to $0.29 for the same period of fiscal 2010.

Second Quarter Fiscal 2011 — Balance Sheet and Cash Flow Highlights

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Cash flow from operations for the quarter was $450.3 million.

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Sales cycle was 11 days for the second quarter of fiscal 2011.

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Annualized inventory turns were seven for the second quarter of fiscal 2011.

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Capital expenditures for the second quarter of fiscal 2011 were $106.1 million.

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Depreciation for the second quarter of fiscal 2011 was $71.3 million.

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Cash and cash equivalent balances were $902.3 million as of February 28, 2011.

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Core return on invested capital was 25.8 percent for the second quarter of fiscal 2011.

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A $0.07 dividend was paid on March 1, 2011.

Business Update
“Our employees and site in Gotemba, Japan were not directly impacted by the natural disaster. However, many of our employees as well as suppliers were impacted. We extend our heartfelt condolences to those who have suffered losses as a result of this tragedy,” said Main.

Revenue from Jabil’s Gotemba site is not material to overall results.

The natural disaster in Japan may have an impact on the supply of components to Jabil’s global manufacturing operations. However, the extent of this impact is not known at this time. Therefore, Jabil is expressing expectations regarding its third quarter results excluding the impact of potential supply disruptions on these results.

These expectations include the recently acquired sites in Italy and France on a fully consolidated basis.

Jabil management indicated that it expects net revenue for its third quarter of fiscal 2011 to range from $4.1 billion to $4.2 billion.

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Jabil estimated that its core operating income for its third quarter of fiscal 2011 will range from $175 million to $185 million or 4.3 to 4.4 percent of net revenue.

Jabil indicated that it expects its core earnings per share for its third quarter of fiscal 2011 to range from $0.55 to $0.59 per diluted share.

GAAP earnings per share are expected to be in a range from $0.44 to $0.48 per diluted share for its third quarter of fiscal 2011. (GAAP earnings per share for the third quarter of fiscal 2011 is currently estimated to include $0.02 per share for amortization of intangibles and $0.09 per share for stock-based compensation).

“Jabil’s prospects for sustainable long-term growth are excellent as we continue to focus on delivering superior value to our customers,” said Main.

Supplemental Information
The financial results disclosed in this release include certain measures calculated and presented in accordance with GAAP. In addition to the GAAP financial measures, Jabil provides supplemental, non-GAAP financial measures to facilitate evaluation of Jabil’s core operating performance. The non-GAAP financial measures disclosed in this release exclude certain amounts that are included in the most directly comparable GAAP measures. The non-GAAP or core financial measures disclosed in this release do not have standard meanings and may vary from the non-GAAP financial measures used by other companies. Management believes core financial measures (which exclude the effects of the amortization of intangibles, stock-based compensation expense and related charges, restructuring and impairment charges, goodwill impairment charges, certain distressed customer charges, settlement of receivables and related charges, loss on disposal of subsidiaries, certain other expenses, net of tax and certain deferred tax valuation allowance charges) are a useful measure that facilitates evaluating the past and future performance of Jabil’s ongoing operations on a comparable basis. Jabil reports core operating income, core return on invested capital, core earnings and core earnings per share to provide investors an additional method for assessing operating income, earnings and earnings per share from what it believes are its core manufacturing operations. Included in this release are Condensed Consolidated Statements of Operations as well as a reconciliation of the disclosed core financial measures to the most directly comparable GAAP financial measures.

Company Conference Call Information
Jabil will hold a conference call to discuss the second fiscal quarter 2011 earnings today at 4:30 p.m. ET live on the Internet at http://www.jabil.com. The earnings conference call will be recorded and archived for playback on the web at http://www.jabil.com. A taped replay of the conference call will also be available March 22, 2011 at approximately 7:30 p.m. ET through midnight on March 29, 2011. To access the replay, call (800) 642-1687 from within the United States, or (706) 645-9291 outside the United States. The pass code is: 51998310. An archived webcast of the conference call will be available at http://www.jabil.com/investors/.

About Jabil
Jabil is an electronic product solutions company providing comprehensive electronics design, manufacturing and product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 24 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 Jabil’s website: jabil.com.

Investor & Media Contact:
Beth Walters
Senior Vice President, Investor Relations & Communications
Jabil Circuit, Inc.
(727) 803-3511
beth_walters@jabil.com

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JABIL CIRCUIT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

		February 28,				August 31,
		2011				2010
ASSETS
Current assets:
Cash and cash equivalents		$	902,317			$	744,329
Trade accounts receivable, net			1,051,482				1,408,319
Inventories			2,160,275				2,094,135
Prepaid expenses and other current assets			600,816				349,165
Income taxes receivable			38,213				35,560
Deferred income taxes			19,152				22,510
Total current assets			4,772,255				4,654,018
Property, plant and equipment, net			1,547,394				1,451,392
Goodwill and intangible assets, net			146,844				132,568
Deferred income taxes			67,497				55,101
Other assets			78,795				74,668
Total assets		$	6,612,785			$	6,367,747
LIABILITIES AND EQUITY
Current liabilities:
Current installments of notes payable and long-term debt		$	137,508			$	167,566
Accounts payable			2,672,382				2,741,719
Accrued expenses			699,002				672,252
Income taxes payable			33,275				19,236
Deferred income taxes			4,814				4,401
Total current liabilities			3,546,981				3,605,174
Notes payable and long-term debt, less current installments			1,100,547				1,018,930
Income tax liability			91,889				86,351
Deferred income taxes			2,260				1,462
Other liabilities			62,711				63,058
Total liabilities			4,804,388				4,774,975
Equity:
Jabil Circuit, Inc. stockholders’ equity
Common stock			223				220
Additional paid-in capital			1,595,848				1,541,507
Retained earnings			253,664				123,303
Accumulated other comprehensive income			161,219				122,062
Treasury stock at cost			(218,768	)			(209,046	)
Total Jabil Circuit, Inc. stockholders’ equity			1,792,186				1,578,046
Noncontrolling interests			16,211				14,726
Total equity			1,808,397				1,592,772
Total liabilities and equity		$	6,612,785			$	6,367,747

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JABIL CIRCUIT, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except for per share data)
(Unaudited)

		Three months ended								Six months ended
		February 28,				February 28,				February 28,				February 28,
		2011				2010				2011				2010
Net revenue		$	3,928,663			$	3,004,644			$	8,010,844			$	6,092,900
Cost of revenue			3,632,263				2,781,898				7,403,853				5,638,378
Gross profit			296,400				222,746				606,991				454,522
Operating expenses:
Selling, general and administrative			141,807				146,264				284,256				277,817
Research and development			6,540				7,425				12,281				15,122
Amortization of intangibles			5,665				6,643				11,634				13,748
Restructuring and impairment charges			196				635				628				4,070
Loss on disposal of subsidiaries			23,944				—				23,944				15,722
Settlement of receivables and related charges			13,607				—				13,607				—
Operating income			104,641				61,779				260,641				128,043
Interest, net and other			25,885				20,511				46,997				40,758
Income before income taxes			78,756				41,268				213,644				87,285
Income tax expense			23,038				11,446				50,515				28,582
Net income			55,718				29,822				163,129				58,703
Net income attributable to noncontrolling interests, net of income tax expense			315				(8	)			1,049				585
Net income attributable to Jabil Circuit, Inc.		$	55,403			$	29,830			$	162,080			$	58,118
Earnings per share:
Income attributable to the stockholders of Jabil Circuit, Inc.:
Basic		$	0.26			$	0.14			$	0.75			$	0.27
Diluted		$	0.25			$	0.14			$	0.74			$	0.27
Weighted average shares outstanding:
Basic			215,170				213,625				214,781				214,040
Diluted			221,022				214,760				219,469				215,916

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JABIL CIRCUIT, INC. AND SUBSIDIARIES
SUPPLEMENTAL DATA
RECONCILIATION OF GAAP FINANCIAL RESULTS TO NON-GAAP MEASURES
(In thousands, except for per share data)
(Unaudited)

		Three months ended								Six months ended
		February 28,				February 28,				February 28,				February 28,
		2011				2010				2011				2010
Operating income (GAAP)		$	104,641			$	61,779			$	260,641			$	128,043
Amortization of intangibles			5,665				6,643				11,634				13,748
Stock-based compensation expense and related charges			20,301				26,512				39,801				40,493
Restructuring and impairment charges			196				635				628				4,070
Settlement of receivables and related charges			13,607				—				13,607				—
Loss on disposal of subsidiaries			23,944				—				23,944				15,722
Core operating income (Non-GAAP)		$	168,354			$	95,569			$	350,255			$	202,076
Net income (GAAP)		$	55,403			$	29,830			$	162,080			$	58,118
Amortization of intangibles, net of tax			5,653				6,635				11,611				13,728
Stock-based compensation expense and related charges, net of tax			20,006				26,178				39,011				39,888
Restructuring and impairment charges, net of tax			196				646				628				4,084
Settlement of receivables and related charges, net of tax			13,607				—				13,607				—
Loss on disposal of subsidiaries, net of tax			23,944				—				23,944				15,722
Core earnings (Non-GAAP)		$	118,809			$	63,289			$	250,881			$	131,540
Earnings per share: (GAAP)
Basic		$	0.26			$	0.14			$	0.75			$	0.27
Diluted		$	0.25			$	0.14			$	0.74			$	0.27
Core earnings per share: (Non-GAAP)
Basic		$	0.55			$	0.30			$	1.17			$	0.61
Diluted		$	0.54			$	0.29			$	1.14			$	0.61
Common shares used in the calculations of earnings per share (GAAP):
Basic			215,170				213,625				214,781				214,040
Diluted			221,022				214,760				219,469				215,916
Common shares used in the calculations of earnings per share (Non-GAAP):
Basic			215,170				213,625				214,781				214,040
Diluted			221,022				214,760				219,469				215,916

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JABIL CIRCUIT, INC. AND SUBSIDIARIES
SUPPLEMENTAL DATA
RECONCILIATION OF GAAP FINANCIAL RESULTS TO NON-GAAP MEASURES
(In thousands, except for per share data)

CALCULATION OF RETURN ON INVESTED CAPITAL

Core Return on Invested Capital (ROIC) is calculated by annualizing the Company’s after-tax non-GAAP operating income for its most recently-ended quarter and dividing that by a two quarter average net invested capital asset base. After-tax non-GAAP operating income excludes expenses and charges relating to the amortization of intangibles, stock-based compensation expense and related charges, restructuring and impairment charges, goodwill impairment charges, certain distressed customer charges, settlement of receivables and related charges and loss on disposal of subsidiaries. Net invested capital is defined as the sum of the averages (the calculation of which are explained below) of stockholders’ equity and current and non-current portions of notes payable and long term debt, adjusted for the average (the calculation of which is explained below) cash and cash equivalents. The following table reconciles ROIC as calculated using after-tax non-GAAP operating income:

		Three months ended
		February 28, 2011
Numerator:
Operating income (GAAP)		$	104,641
Amortization of intangibles			5,665
Stock-based compensation expense and related charges			20,301
Restructuring and impairment charges			196
Settlement of receivables and related charges			13,607
Loss on disposal of subsidiaries			23,944
Core operating income (Non-GAAP)		$	168,354
Tax effect (1)			(23,368	)
After-tax operating income (Non-GAAP)		$	144,986
			x4
Annualized after-tax operating income (Non-GAAP)		$	579,944
Denominator:
Average total Jabil Circuit, Inc. stockholders’ equity (2)		$	1,741,799
Average notes payable and long-term debt, less current installments (2)			1,099,998
Average current installments of notes payable and long-term debt (2)			168,218
Average cash and cash equivalents (2)			(766,236	)
Net invested capital asset base		$	2,243,779
Core Return on Invested Capital (Non-GAAP)			25.8	%

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