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 $16 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, which highly competitive and potentially volatile industry conditions, frequent restructurings to address competitive conditions, and moderate customer concentration offset. Following a revenue trough in the May 2009 quarter, business activity and revenues rebounded in subsequent quarters. Jabil reported revenues of $4.2
