Ratings on St. Petersburg, Fla.-based Jabil Circuits Inc. continue to reflect its top-tier industry position and moderate financial profile, offset by challenges associated with high customer concentration and exposure to volatile end-markets in the electronics industry. Jabil Circuits is a leading provider of electronic manufacturing services (EMS) to such leading original equipment manufacturers (OEMs) as Cisco Systems Inc., Royal Philips Electronics, and Hewlett-Packard Co. 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, increasing operating leverage, and a growing international presence are keys to adequate operating performance over a challenging year. The company has added major European customers and expanded its low-cost
