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                                                                    EXHIBIT 11.1


                             JABIL CIRCUIT, INC.
                STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
                 (in thousands, except for per share amounts)
                                 (Unaudited)




                                         Three months ended                Nine months ended              
                                               May 31,                           May 31,                  
                                        1996             1997            1996              1997           
                                       ----------------------------------------------------------         
                                                                              
Net income                             $ 6,237         $14,572         $17,790            $34,459         
                                       ==========================================================         
                                                                                                          
Computation of weighted                                                                                   
 average common and common                                                                                
 equivalent shares outstanding:                                                                           
                                                                                                          
Common stock                            17,749          18,251          17,044             18,058         
                                                                                                          
Options                                  1,144             945           1,182              1,042         
                                       ----------------------------------------------------------         
Total number of shares                                                                                    
used in computing                                                                                         
per share amounts                       18,893          19,196          18,226             19,100         
                                       ==========================================================
                                                                   
Net income per share                   $  0.33         $  0.76         $  0.98            $  1.80         
                                       ==========================================================