Address: 10560 Dr. Martin Luther King Jr. St. N, St. Petersburg, FL 33716; (727) 577-9749; www.jabil.com
Business: Electronic components and circuitry
Ticker symbol, market: JBL, NYSE
Market capitalization: $1.72 billion
CEO: Timothy L. Main
Revenue: $12.8 billion, up 4 percent
Net income: $133.9 million, up 83 percent
Per share: 65 cents, up 86 percent
Return on equity: 5.2 percent
Biggest challenge: Low demand across the board in the recession caused the company to lose $42 million in the last quarter. Jabil projects a further 10 percent sales decline this year. Worldwide layoffs of about 3,000 included 250 at the company's plant in St. Petersburg. The company hopes the recession inspires electronics companies to outsource more of their manufacturing to Jabil. "The overall business environment remains poor with limited visibility," CEO Timothy Main said.
Strong leadership is grown from within
Electronics manufacturer Jabil Circuit likes growing its own leaders.
Last year, the company launched a leadership program, which helps focus management on an upward career path. The program has 630 employees worldwide. Most work at the St. Petersburg headquarters.
Jabil has always had a culture of grooming its executives. CEO and president Tim Main joined the company in April 1987 as a production control manager, and quickly climbed the ranks. Prior to last year, the company had an informal leadership training program, said Audrey McGuckin, director of human resource development. The new program solidifies the company's goal to retain and train its employees, a spokeswoman said.
The program seeks to make senior managers better leaders, increase their performance and equip them with necessary skills for future roles. The company tailors its programs to individual employees. Jabil has a partnership with the Harvard Business School that allows employees to travel to Boston for a four-day, customized program, and the company sends selected employees on international assignments and hires external coaches for training.
—Times Staff Writer
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