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Jabil Circuit's second-quarter loss grows to $42.1 million

Despite layoffs of more than 250 workers in St. Petersburg last year, Jabil Circuit's losses widened in the business quarter that ended Feb. 28. The circuit board maker reported a loss of $42.1 million, or 20 cents per share, vs. a loss of $24 million, or 12 cents a share, in the same quarter last year. "The overall business environment remains poor with limited visibility," chief executive Tim Main said Tuesday. Sales have dipped in the recession, capped by the bankruptcy of telecom provider Nortel, a Jabil customer. Revenue declined from $3.1 billion in the second quarter of 2008 to $2.9 billion in the second quarter of 2009. Jabil predicted a further erosion of sales in the spring, followed by what Main said could be a "choppy" recovery. Jabil employs about 1,800 in a plant and headquarters on Dr. Martin Luther King Jr. Street N in St. Petersburg.

Jabil Circuit's second-quarter loss grows to $42.1 million 03/24/09 [Last modified: Tuesday, March 24, 2009 6:31pm]
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