Solid operating performance relative to peer group; Top-tier electronic manufacturing services (EMS) position; and Moderate financial profile. Competitive industry conditions; and Customer concentration. The rating on St. Petersburg, Fla.-based Jabil Circuit Inc. reflects good operational performance, a growing electronic manufacturing services (EMS) market position, and a lightly leveraged balance sheet, offset by competitive industry conditions and some customer concentration. Jabil is a leading provider of electronics manufacturing services to such leading OEMs as Koninklijke Philips Electronics N.V., Nokia Corporation, and Hewlett-Packard Co. Jabil had about $786 million in total debt outstanding, including operating leases, pension adjustments and securitizations, at May 2006. Revenues for the March quarter improved 34% over the year-ago period, a rate of growth that has been sustained
