Business: Company Capsules

Company Capsules

Times Staff Writer
Published June 9, 2003

1 Tech Data Corp.

5350 Tech Data Drive
Clearwater, FL 33760
(727) 539-7429
www.techdata.com
Business: Distributor of computer products
Ticker symbol, market: TECD, Nasdaq-NM
Stock Price: click here
Top officers: Steven A. Raymund, chairman/CEO; Nestor Cano, president, worldwide operations
Financials (year ended 1/21/03)
Revenue: $15.7-billion, down 8.5%
Net loss: $199.8-million, down 280.4%
Per share: -$3.55, down 279.3%
Return on equity: -15.9%
2-year return to shareholders: -17.1% (May 31, 2001-May 30, 2003)
Market capitalization: $1.4-billion
Biggest challenge: Finding customers in fast-growing industries such as wireless and security products to counter a three-year slump in PC sales that has decimated its U.S. business. With sales expected to remain stagnant for the short term, managers are seeking customers in "specialized business units" such as point-of-sale technology. The company also is integrating several European acquisitions and finishing an upgrade of its European infrastructure.

2 Jabil Circuit Inc.

10560 Dr. M.L. King St. N
St. Petersburg, FL 33716
(727) 577-9749
www.jabil.com
Business: Contract electronics manufacturer
Ticker symbol, market: JBL, NYSE
Stock price: click here
Top officers: William D. Morean, chairman; Timothy L. Main, president/CEO
Financials (year ended 8/31/02)
Revenue: $3.5-billion, down 18.1%
Net income: $34.7-million, down 70.7%
Per share: 17 cents, down 71.2%
Return on equity: 2.4%
2-year return to shareholders: -28.6% (May 31, 2001-May 30, 2003)
Market capitalization: $4.2-billion
Biggest challenge: Weathering a prolonged slump in electronics, particularly in telecom and computers, that shows few signs of improving soon. The company has systematically moved jobs to low-cost labor markets overseas but is now trying to stem the loss of U.S. jobs. Sales teams in U.S. plants are on a mission to find customers in promising industries such as high-end communications, medical electronics and defense work. Jabil is on the brink of falling off the Fortune 500 list after slipping from No. 378 to No. 441 in 2002.

3 TECO Energy Inc.

702 N Franklin St.
Tampa, FL 33602
(813) 228-4111
www.tecoenergy.com
Business: Diversified utility holding company
Ticker symbol, market: TE, NYSE
Stock price: click here
Annual dividend: 76 cents
Top officers: Robert D. Fagan, chairman/president/CEO; John B. Ramil, executive vice president/president of Tampa Electric; Gordon L. Gillette, chief financial officer/senior vice president of finance
Financials (year ended 12/31/02)
Revenue: $2.7-billion, up 7.6%
Net income: $330.11-million, up 8.7%
Per share: $2.15, up 5.4%
Return on equity: 14.2%
2-year return to shareholders: -53.7% (May 31, 2001-May 30, 2003)
Market capitalization: $2.3-billion
Biggest challenge: Containing the fallout from massive debt and losses at wholesale power subsidiary TECO Power Services. TECO is considering major asset sales to raise cash. Doing so could prove to be difficult because many other utilities are also in debt-reducing mode. Nonetheless, TECO must move quickly to cut debt in order to regain the confidence of investors, who have been hit by a sharp reduction in the company's dividend, and allay the concerns of ratings agencies. Moody's, Standard & Poor's and Fitch have all cut the company's long-term debt rating to junk.

4 Outback Steakhouse Inc.

2202 N. West Shore Blvd., 5th Floor
Tampa, FL 33607
(877) 733-6774
www.outback.com
Business: restaurant chains
Ticker symbol, market: OSI, NYSE
Stock price: click here
Annual dividend: 48 cents
Top officers: Chris T. Sullivan, chairman/CEO; Robert D. Basham, president/COO
Financials (year ended 12/31/02)
Revenue: $2.36-billion, up 11.1%
Net income: $156.36-million, up 17.2%
Per share: $1.97, up 15.9%
Return on equity: 15.7%
2-year return to shareholders: 31.0% (May 31, 2001-May 30, 2003)
Market capitalization: $2.8-billion
Biggest challenge: Improving slumping same-store sales at its Carrabba's chain, keeping labor costs in check and continuing to expand even its priciest restaurant concepts at a time when consumers are cautious. International growth in the Outback chain should continue, even as kinks are worked out in markets like South Korea. Needs contingency plans in case mad cow disease spreads to the U.S. beef supply.

5 Walter Industries Inc.

4211 W. Boy Scout Blvd.
Tampa, Florida 33607
(813) 871-4811
www.walterind.com
Businesses: Home building, financing, industrial products
Ticker symbol, market: WLT, NYSE
Stock price: click here
Annual dividend: 12 cents
Top officers: Don DeFosset, chairman/president/CEO; William F. Ohrt, executive VP/CFO
Financials (year ended 12/31/02)
Revenue: $1.94-billion, up 1.2%
Net loss: $52.52-million, down 221.4%
Per share: -$1.17, down 223.2%
Return on equity: -1.61%
2-year return to shareholders: 5.7% (May 31, 2001-May 30, 2003)
Market capitalization: $523-million
Biggest challenge: Keeping its coal, natural gas, aluminum and petroleum coke subsidiaries competitive while continuing to shop them to potential buyers. The company also must cope with price pressures in its municipal water pipe business and continue attempts to expand its very profitable home financing business. Improving its image on Wall Street - and its stock price - remain top priorities.

6 Raymond James Financial Inc.

880 Carillon Parkway
St. Petersburg, FL 33716
(727) 567-1000
www.raymondjames.com
Business: Stock brokerage and money management
Ticker symbol, market: RJF, NYSE
Stock price: click here
Annual divided: 36 cents
Top officers: Thomas A. James, chairman/CEO; Chester B. Helck, president/COO
Financials (year ended 9/27/02)
Revenue: $1.5-billion, down 9.3%
Net income: $79.3-million, down 17.7%
Per share: $1.60, down 19.2%
Return on equity: 9.9%
2-year return to shareholders: 7.4% (May 31, 2001-May 30, 2003)
Market capitalization: $1.5-billion
Biggest challenge: Getting investors interested in stocks again. Investor confidence has been eroded by three years of stock market losses, outrage over Enron and other scandals and disappointing earnings. The company also is embroiled in numerous legal claims filed by investors attempting to recoup losses. However, Raymond James is poised to expand should the markets cooperate. A major addition to company headquarters is scheduled for completion early next year.

7 Danka Business Systems PLC

11201 Danka Circle N
St. Petersburg, FL 33716
(727) 576-6003
www.danka.com
Business: Office equipment distributor
Ticker symbol, market: DANKY, Nasdaq-NM
Stock price: click here
Top officers: P. Lang Lowrey, chairman/CEO; Mark Wolfinger, CFO
Financials (Year ended 3/31/03)
Revenue: $1.4-billion, down 10%
Net income: $9.73-million, down 92.9%
Per share: -13 cents, down from $1.95
Return on equity: 17.1%
2-year return to shareholders: 338.1% (May 31, 2001-May 30, 2003)
Market capitalization: $284.7-million
Biggest challenge: Refinancing and continuing to chip away at long-term debt. Reviving revenues and profitability will continue to be difficult as long as a significant portion of the company's customers use analog equipment. Pushing digital copiers as part of a networked document management system will be key. Must finally implement a cost-cutting software system that is running millions of dollars over budget.

8 Lincare Holdings Inc.

19387 U.S. 19 N
Clearwater, FL 33764
(727) 530-7700
www.lincare.com
Business: Oxygen and respiratory therapy services
Ticker symbol, market: LNCR, Nasdaq-NM
Stock price: click here
Top officers: John P. Byrnes, chairman/CEO; Schawn S. Schable, president/COO
Financials (year ended 12/31/02)
Revenue: $960.9-million, up 18.3%
Net income: $190.43-million, up 41.1%
Per share: $1.73, up 40.7%
Return on equity: 23.9%
2-year return to shareholders: 5.4% (May 31, 2001-May 30, 2003)
Market capitalization: $3.2-billion
Biggest challenge: Meeting the expectations of analysts and investors who rely on the company to produce carefully calibrated growth through new openings and acquisitions nationwide. Lincare will have to continue growing and absorbing new operations as it builds market share. Though Lincare and its competitors are constantly threatened with possible reductions in Medicare payments, the company is considered big enough to weather any cutbacks.

9 Global Imaging Inc.

3820 Northdale Blvd., Suite 200A
Tampa, FL 33624
(813) 960-5508
www.global-imaging.com
Business: Office equipment distributor
Ticker symbol, market: GISX, Nasdaq-NM
Stock price: click here
Top officers: Thomas S. Johnson, president/CEO; Ray Schilling, Sr. VP/CFO
Financials (Year ended 3/31/03)
Revenue: $679.42-million, up 9.9%
Net income: $34.24-million, up 25.8%
Per share: $1.58, up 9%
Return on equity: 16.3%
2-year return to shareholders: 104.4% (May 31, 2001-May 30, 2003)
Market capitalization: $443.8-million
Biggest challenge: Maintaining high rates of earnings growth both internally and through acquisitions. Because of its large number of acquisitions, keeping long-term debt down will remain a challenge. Keeping expenses and head count under control now will help the company avoid the large, morale-busting layoffs that have afflicted some competitors.

10 MarineMax Inc.

18167 U.S. 19 N, Suite 499
Clearwater, FL 33764
(727) 531-1700
www.marinemax.com
Business: Recreational boat sales
Ticker symbol, market: HZO, NYSE
Stock Price: click here
Top officers: William H. McGill Jr., chairman/CEO/president; David L. Cochran, senior VP/COO
Financials (Year ended 9/30/02)
Revenue: $540.72-million, up 7.3%
Net income: $17.07-million, up 11.2%
Per share: $1.10, up 8.9%
Return on equity: 12.5%
2-year return to shareholders: 29.6% (May 31, 2001-May 30, 2003)
Market capitalization: $173.9-million
Biggest challenge: Continuing its schedule of acquisitions as well as internal growth. The company also must try to move some of its existing customers into 100-foot-plus, multimillion-dollar boats built by Westship World Yachts of Tampa, with which it now has an exclusive distribution deal. Selling boats in the off-season remains a persistent challenge.