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What: Shares of contract electronics manufacturer Jabil Circuit (NYSE: JBL) were flying high today, gaining as much as 11% in intraday trading.

So what: It was a pretty straightforward case for Jabil's gains today. The company reported its 2011 fiscal first-quarter results and gave its outlook for the quarter ahead, and pretty much all the numbers involved were looking darn good. Revenue during the quarter was $4.1 billion, a 32% increase from last year and ahead of the $3.96 billion that analysts were looking for. Core earnings per share -- which excludes things like amortization and stock-compensation expenses -- clocked in at $0.61, nearly double last year's tally and well ahead of the $0.55 average analyst estimate.

Now what: And if the current-quarter numbers weren't enough, Jabil also provided its outlook for its second fiscal quarter, and both revenue and earnings estimates were above Wall Street's current views. As the global economy continues to improve, Jabil could catch a nice cyclical tailwind. Of course, after getting investors excited with the earnings release this quarter, the company now has to make sure to execute and deliver on those Wall-Street-topping estimates.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his Motley Fool  CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.