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Times 10
Profiles of the top 10 companies
By HELEN HUNTLEY
Published May 16, 2005
1: TECH DATA CORP.
5350 Tech Data Drive
Clearwater, FL 44760
(727) 539-7429
www.techdata.com
BUSINESS: Distributor of computer products
TICKER SYMBOL, MARKET: TECD, Nasdaq-NM
TOP OFFICERS: Steven A. Raymund, chairman/chief executive; Nestor Cano, president worldwide operations; Jeffery P. Howells, executive vice president
EMPLOYEES: 8,500
FINANCIALS
(Year ended 1/31/05)
REVENUE: $19.8-billion, up 13.7%
NET INCOME: $162.5-million, up 56%
PER SHARE: $2.74, up 51.4%
RETURN ON EQUITY: 9.1%
2-YEAR RETURN TO SHAREHOLDERS: 47.6%
MARKET CAPITALIZATION: $5.6-billion
BIGGEST CHALLENGE: Completing a major upgrade of its information technology systems overseas and recovering from lingering economic problems in Europe. CEO Steve Raymund said business demand in the Americas is strong but overseas "is still not there yet." This is the third and final year of a computer upgrade overseas, costing $15-million to $20-million annually. Tech Data is counting on the effort to standardize its procedures worldwide and reduce costs.
2: JABIL CIRCUIT INC.
10560 Dr. Martin Luther King St. N
St. Petersburg, FL 33716
(727) 577-9749
www.jabil.com
BUSINESS: Contract electronics manufacturer
TICKER SYMBOL, MARKET: JBL, NYSE
TOP OFFICERS: Timothy L. Main, president/chief executive; Mark T. Mondello, chief operating officer; Forbes I.J. Alexander, chief financial office
EMPLOYEES: 43,000
FINANCIALS
(Year ended 8/31/04)
REVENUE: $6.3-billion, up 32.2%
NET INCOME: $166.9-million, up 288.1%
PER SHARE: 81 cents, up 285.7%
RETURN ON EQUITY: 9.8%
2-YEAR RETURN TO SHAREHOLDERS: 47.6%
MARKET CAPITALIZATION: $5.6-billion
BIGGEST CHALLENGE: BIGGEST CHALLENGE: After relocating much of its production of mass-produced electronics such as circuit boards to cheaper labor markets overseas, Jabil continues to look for niche manufacturing opportunities domestically. That includes markets from medical instruments to cell phones and home appliances. Overseas, the company is moving into new markets, such as Ukraine, and expanding its customer base to indigenous Chinese and Asian manufacturers.
3: 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
ANNUAL DIVIDEND: 52 cents
TOP OFFICERS: William Allen III, chief executive; Paul Avery, chief operating officer
EMPLOYEES: 80,000
FINANCIALS:
(Year ended 12/31/04)
REVENUE: $3.2-billion, up 20.1%
NET INCOME: $156.06-million, down 6.7%
PER SHARE: $2.01, down 5.6%
RETURN ON EQUITY: 14.9%
2-YEAR RETURN TO SHAREHOLDERS: 15.9%
MARKET CAPITALIZATION: $3-billion
BIGGEST CHALLENGE: Improving same-store sales and reducing new-store opening costs at its flagship steakhouse chain, while dealing with higher commodities prices companywide. Outback also plans to tweak its Paul Lee's Chinese Kitchen concept before rolling it out more broadly. Recent departure of the company's founding CEO, COO and CFO will test new leadership.
4: TECO ENERGY INC.
702 N Franklin St.
Tampa, FL 33602
(813) 228-4111
www.tecoenergy.com
BUSINESS: Electric and gas utility holding company
TICKER SYMBOL, MARKET: TE, NYSE
ANNUAL DIVIDEND: 76 cents
TOP OFFICERS: Sherrill W. Hudson, chairman/chief executive; John B. Ramil, president/chief operating officer; Gordon L. Gillette, executive vice president/chief financial officer
EMPLOYEES: 5,543
FINANCIALS
(Year ended 12/31/04)
REVENUE: $2.67-billion, up 2.7%
NET LOSS: $552-million
PER SHARE: -$2.87
RETURN ON EQUITY: -37.1%
2-YEAR RETURN TO SHAREHOLDERS: 69.9%
MARKET CAPITALIZATION: $3.5-billion
BIGGEST CHALLENGE: Putting the company's financial house in order after having written off huge investments in unregulated wholesale power plants. The company is accumulating cash to retire all or the majority of its debt maturities in 2007. Another 2007 milestone: the expiration of federal tax credits for the production of coal-based synthetic fuel, a major source of income.
5: RAYMOND JAMES FINANCIAL INC.
880 Carillon Parkway
St. Petersburg, FL 33716
www.raymondjames.com
BUSINESS: Stock brokerage and money management
TICKER SYMBOL, MARKET: RJF, NYSE
ANNUAL DIVIDEND: 32 cents
TOP OFFICERS: Thomas A. James, chairman/chief executive; Chester B. Helck, president/chief operating officer
EMPLOYEES: 5,417 plus 3,899 independent contractors.
FINANCIALS
(Year ended 9/24/04)
REVENUE: $1.78-billion, up 22.7%
NET INCOME: $127.58-million, up 47.8%
PER SHARE: $1.72, up 47.01%
RETURN ON EQUITY 12.8%
2-YEAR RETURN TO SHAREHOLDERS: 44.1%
MARKET CAPITALIZATION: $2-billion
BIGGEST CHALLENGE: Adjusting to a new regulatory and legal environment that has put the company's system for supervising brokers under fire. An SEC judge will rule this summer whether Raymond James committed fraud by failing to catch - and stop - a dishonest broker in Cranston, R.I. The company also is defending itself against client claims related to a mortgage investment program two of its brokers in Houston ran on the side.
6: WALTER INDUSTRIES INC.
4211 W Boy Scout Blvd.
Tampa, FL 33607
(813) 871-4811
www.walterind.com
BUSINESS: Home building, financing, industrial products, coal and natural gas
TICKER SYMBOL, MARKET: WLT, NYSE
ANNUAL DIVIDEND: 16 cents
TOP OFFICERS: Don DeFosset, chairman/president/chief executive (until successor chosen); Bill Ohrt, Executive V.P./CFO
EMPLOYEES: 4,953
FINANCIALS
(Year ended 12/31/04)
REVENUE: $1.46-billion, up 10.3%
NET INCOME: $49.92-million, up 272.1%
PER SHARE: $1.14, up 270.2%
RETURN ON EQUITY: 18.6%
2-YEAR RETURN TO SHAREHOLDERS: 244.1%
MARKET CAPITALIZATION: $1.3-billion
BIGGEST CHALLENGE: Turning its homebuilding unit around and finding good leaders to replace both its retiring CEO and its recently-departed homebuilding chief. Walter continues to take advantage of the steep climb in coal prices by increasing production at its Alabama mines. Its stock was the Tampa Bay area's best performer in 2004, though it is down about from all-time highs reached in April.
7: WELLCARE HEALTHPLANS INC.
8725 Henderson Road
Renaissance One
Tampa, FL 33634
813 290-6200 www.wellcare.com
BUSINESS: Managed health care
TICKER SYMBOL, MARKET: WCG, NYSE
TOP OFFICERS: Todd Farha, president/chief executive; Paul Behrens, senior vice president/chief financial officer; Thaddeus Bereday, senior vice president/general counsel
EMPLOYEES: 1,585
FINANCIALS
(Year ended 12/31/04)
REVENUE: $1.4-billion, up 33.4%
NET INCOME: $49.3-million, up 109.3%
PER SHARE: $1.56, up 160%
RETURN ON EQUITY: 24.1%
RETURN TO SHAREHOLDERS: 73.5% since IPO
MARKET CAPITALIZATION: $1.1-billion
BIGGEST CHALLENGE: Since going public in July, WellCare has been aggressively expanding its territory and increasing membership in its Medicare and Medicaid programs in Florida, New York, Illinois, Indiana, Connecticut and Louisiana. Its ability to provide health care services to a growing population efficiently and cost-effectively will be critical to its success in a competitive market.
8: DANKA BUSINESS SYSTEMS PLC
11101 Roosevelt Blvd.
St. Petersburg, FL 33716
(727) 622-2100
www.danka.com
BUSINESS: Office equipment distributor
TICKER SYMBOL, MARKET: DANKY, Nasdaq-NM
TOP OFFICERS: Todd Mavis, president/chief executive; Peter Williams, president, European group
EMPLOYEES: 7,145
FINANCIALS
(four quarters ended 12/31/04; results not yet available for fiscal year ended 3/31/05)
REVENUE: $1.28-mil., down 5.03%
NET LOSS: $93.33-million
PER SHARE: -$1.81
RETURN ON EQUITY: -10.37%
2-YEAR RETURN TO SHAREHOLDERS -67.9%
MARKET CAPITALIZATION: $81.9-million
BIGGEST CHALLENGE: Returning to profitability despite substantial price competition and a reduction in its sales force. Danka and its shareholders have been on a long downhill slide. With revenues falling, the company will continue to implement cost-cutting measures, including through facility closures and a 12 percent reduction in force announced in February.
9: 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
TOP OFFICERS: John P. Byrnes, chief executive; Shawn Schabel, president/chief operating officer; Paul Gabos, chief financial officer
EMPLOYEES: 7,857
FINANCIALS
(Year ended 12/31/04)
REVENUE: $1.3-billion, up 10.6%
NET INCOME: $273.4-million, up 17.8%
PER SHARE: $2.60, up 18.7%
RETURN ON EQUITY: 27.2%
2-YEAR RETURN TO SHAREHOLDERS: 40.5%
MARKET CAPITALIZATION: $4.3-billion
BIGGEST CHALLENGE: A reduction in payments from its biggest payor, Medicare. For the first time in recent history, Lincare reported a decline in both revenues and net income during the first quarter of 2005 due to reductions in Medicare payments which took effect Jan. 1. The company estimates operating income in the quarter was cut by $43-million as a result of the changes. Lincare projects that the 8.7 percent reduction in Medicare payments for oxygen equipment will translate into revenue reductions of $15- to $16-million per quarter going forward.
10: CERTEGY INC.
100 Second Avenue South, Suite 1100S
St. Petersburg, FL 33701
(727) 227-8000
www.certegy.com
BUSINESS: credit and debit card and check processing services
TICKER SYMBOL, MARKET: CEY, NYSE
ANNUAL DIVIDEND: 20 cents
TOP OFFICERS: Lee A. Kennedy, chairman/chief executive; Larry J. Towe, president/chief operating officer; Michael T. Vollkommer, executive vice president/chief financial officer.
EMPLOYEES: 5,300
FINANCIALS
(Year ended 12/31/04)
REVENUE: $1-billion, up 12.8%
NET INCOME: $111.8-million, up 21%
PER SHARE: $1.75, up 25%
RETURN ON EQUITY: 39.9%
2-YEAR RETURN TO SHAREHOLDERS: 47.2%
MARKET CAPITALIZATION: $2.3-billion
BIGGEST CHALLENGE: Capturing a larger share of the fast-growing debit card market and adding identity theft services as the traditional check-writing market shrinks. The company also is expanding internationally. Other challenges include keeping up with fast-changing technology. This spinoff of Equifax Inc. moved to St. Petersburg from the Atlanta area last year.
NOTES:
*Financial results are for the most recently completed fiscal year except in the case of Danka Business Systems, which completed its year March 31, but has not released results. Results for Danka are for the four quarters ended Dec. 31.
*A percent change in net income is shown only for companies that made a profit in the most recent fiscal year. TECO Energy and Danka Business Systems lost money both years. For Walter Industries, which lost money in 2003 but made money last year, the percent change reflects total change in profits.
*Return on equity is net income divided by average equity.
*Two-year stock return is based on change in share price between April 30, 2003 and April 29, 2005 and includes reinvestment of dividends. Return shown for WellCare is from initial offering through April 29, 2005.
*Market capitalization is the value of all the company's outstanding shares.
-- Company profiles by Times staff writers Scott Barancik, Jeff Harrington, Louis Hau, Helen Huntley and Kris Hundley.
Sources: Securities and Exchange Commission filings, Bloomberg News and the companies.
[Last modified May 16, 2005, 09:55:39]
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