The ratings on St. Petersburg, Fla.-based Jabil Circuits continue to reflect its top-tier industry position and moderate financial profile, offset by challenges associated with high customer concentration in the cyclical electronics industry. Jabil Circuits Inc. is a leading provider of electronic manufacturing services (EMS) to such leading original equipment manufacturers as Cisco Systems Inc., Dell Computer Corp., and Hewlett-Packard Corp. Jabil's emphasis on customer focus and strong customer relationships are key differentiators in its strategic approach, resulting in solid sales growth with existing customers. Good operational performance, greater operating scale, and a growing international presence enhanced its business position over the past year. The company has added major European customers and expanded its low-cost manufacturing capacity in Asia, which should
