Contract manufacturer Jabil Circuit Inc
Shares of the company were down 4 percent at $19.17 in extended trade on Tuesday.
Jabil, which supplies to Cisco Systems
The company, which competes with Flextronics International Ltd
Analysts on average were expecting earnings of 59 cents per share on revenue of $4.23 billion, according to Thomson Reuters I/B/E/S.
The company, which reduced exposure to its mobility handset and TV set displays businesses in the HVS in the first quarter, said the segment will see some impact from the Thailand floods.
The Chinese new year, fewer working days in the (second)quarter, and there will be some impact in our high velocity business area related to set top boxes due to the Thailand flooding. Chief Executive Timothy Main said on a call with analysts.
The HVS provides module design, manufacturing, and repair services for digital home and office products like set-top boxes, printers and keyboards.
Jabil's first-quarter revenue fell as inventory adjustments by some large customers hurt its enterprise and infrastructure business.
First-quarter net income rose to $112.9 million, or 54 cents per share, from $106.7 million, or 49 cents per share, a year ago.
The company's core earnings were 65 cents per share.
Revenue for the quarter rose to $4.3 billion from $4.1 billion a year ago.
Analysts, on average, expected first-quarter earnings of 65 cents per share on revenue of $4.41 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Viraj Nair)