ST. PETERSBURG, FL – Jabil Circuit said today its second-quarter earnings dropped 80% because of increased costs and expenses.

For the quarter, Jabil's net income fell to $13.9 million, from $69 million year-over-year. Adjusted earnings were $28.5 million, compared with $78.7 million in the second quarter last year.

Quarterly revenue grew to $2.9 billion from $2.3 billion.