Good position in the global electronic manufacturing services industry Focus on diversified end markets with above-average margins Consistent profitability despite highly competitive and potentially volatile industry conditions Free operating cash flow characteristics are cyclical but generally positive We expect Jabil to maintain a balanced approach to strategic investments and shareholder returns, and moderate financial policies The stable outlook reflects our expectation that Jabil Circuit Inc.'s focus on an increasingly diverse mix of higher-margin manufacturing business will enable the company to sustain moderate revenue growth, consistent profitability, and its intermediate financial risk profile. We could lower our ratings if the company pursues a more aggressive financial policy (via acquisitions or share buybacks), or a pronounced industry contraction leads to a reduction
