Solid operating performance relative to peer group; Good electronic manufacturing services market position; and Improving leverage profile. Highly competitive and volatile industry conditions; Relatively low average return on capital; and Moderate customer concentration. The rating on St. Petersburg, Fla.-based Jabil Circuit Inc. reflects the company's diversified end markets, consistent profitability despite difficult market conditions, and improving financial profile. With annual revenues in excess of $13 billion, Jabil provides electronic manufacturing services (EMS) to a wide range of industries including networking and telecom, computing and storage, mobile phone and digital consumer products, and industrial and medical equipment. The company's fair business risk profile reflects its good position as the third-largest global EMS provider, offset by highly competitive and potentially volatile industry
