Solectron Meets Estimates

Solectron Corp., the No. 1 contract maker of electronics, said fiscal third-quarter earnings jumped 42% to $127.6 million, or 21 cents a share, matching analyst estimates, as it built more mobile phones and computer networking equipment. The results exclude restructuring and acquisition charges. Revenue grew 52% to $3.59 billion. The company said shortages of parts will persist until the middle of next year and constrain revenue growth. Solectron shares rose $1.63 to close at $37.06 on the New York Stock Exchange before the news was released. They fell to $36 in after-hours trading.