Sep. 30--Add Jabil Circuit Inc. executives to the list of people saying the recession is passing. Not over, but starting to ease.

Top managers with the St. Petersburg-based electronics maker said their business results are turning around and, "based upon our current expectations, it appears as though the worst of the recession is behind us."

Jabil's perspective is one of global reach.

The company has grown into one of the world's largest electronics manufacturers, with dozens of factories around the world, building products that ultimately bear brand names such as Hewlett-Packard, Cisco and Nokia.

Through acquisitions and by taking over their clients' manufacturing, Jabil's employment has almost doubled since 2005 to 85,000 people around the world, including about 1,800 in the St. Petersburg area at a headquarters building and manufacturing site.

In the quarter ended Aug. 31, Jabil had revenue of $2.8 billion, compared with $3.3 billion in the quarter a year before. After three quarters of losses, Jabil posted a profit of $5.5 million, compared with profit of $57.5 million in the same quarter a year before.

Jabil's stock price has steadily recovered from a low of $3.10 in March to more than $12 this month, closing Tuesday at $12.28 before the results were released and rising about 8 percent in after-hours trading.

Reporter Richard Mullins can be reached at (813) 259-7919.

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