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Article Excerpt
During 2002, the companies on this year's Top 250 Public Companies list experienced varying degrees of success as the national economy took an unsteady path toward recovery. While keeping an eye on their ledgers, executives at these Florida companies were also watching Capitol Hill for signs of how they would do business in the future.
In the same month that last year's Top 250 Public Companies list was published, President George Bush signed into law the Sarbanes-Oxley Act, which creates regulatory safeguards against the freewheeling accounting mismanagement that led to the Enron and WorldCom scandals. The rules that were put into effect in response to actions by giant corporations have actually put more of a squeeze on midsize and smaller companies (those with less than $500 million in revenue), which make up the majority of Florida's Top 250 Public Companies list.
The costs associated with stricter auditing and accounting procedures and more oversight responsibilities for board members translate to substantial time and resource investments for smaller companies. For many smaller Florida public companies, this, along with typically low trading volume in their stocks, forces them to reassess the advantages of continuing as publicly held entities. One such company, Naples-based SmartDisk Corp. (No. 157 on last year's list with $70 million in revenue), opted in May to deregister its stock and revert to private ownership, citing these pressures. Tampa's Tropical Sportswear International (No. 55 this year) hinted in June that it, too, is considering strategic alternatives to remaining a publicly traded firm.
Florida's Top 250 Public Companies are a diverse group. Over 25 industries are represented, ranging from banking to media to healthcare. They also vary widely in size: No. 1 AutoNation, with over $19 billion in revenue, 2,800 employees and a nationwide reach, contrasts sharply with No. 250 Atlantic Bancgroup, which comes in at $7.4 million in revenue, 40 employees and a decidedly local (Jacksonville area) presence. Yet all these companies have a common thread: Their headquarters are in Florida, and thus contribute in a significant way to the state's economic health.
As is the case each year, because of relocations and mergers, some companies are making their final appearances on this list (see 'Where Did They Go?" page 79). Which companies will replace them next year? Tampa-based NetWolves Corp., a computer network security services company, posted $15.6 million in revenue through the first three quarters of its fiscal year 2003. Because these gains occurred after its latest annual 10-K report, revenue levels were not high enough to make this year's list. However, provided NetWolves continues this pace, it should make this list in 2004.
Coming in September: FLORIDA TREND's Top 200 Private Companies list
TOP 250 VITAL STATISTICS TOTAL REVENUES for 2002 $181.6 billion TOTAL EARNINGS for 2002 $2.8 billion TOTAL EMPLOYEES for 2002 982,000 LARGEST EMPLOYERS Rank Company Employees 9 DARDEN RESTAURANTS INC. 133,200 3 WINN-DIXIE STORES INC. 112,500 16 OUTBACK STEAKHOUSE INC. 59,000 4 OFFICE DEPOT INC. 43,000 6 CSX CORP. 39,928 BIGGEST PROFITS Profits Rank Company (in thousands) 10 CARNIVAL CORP. $1,015,941 7 LENNAR CORP. 545,129 5 FPL GROUP INC. 473,000 6 CSX CORP. 424,000 1 AUTONATION INC. 381,600 BIGGEST LOSSES Losses Rank Company (in thousands) 18 SPHERION CORR -$903,272 35 MPS GROUP INC. -566,304 53 INTERNATIONAL SPEEDWAY CORP. -410,978 85 PAXSON COMMUNICATIONS CORP. -303,861 88 SBA COMMUNICATIONS CORP. -273,165 REVENUE GAINS (More than $500 million total revneue) Revenues Rank Company % Change (in thousands) 31 PRIORITY HEALTHCARE 49.1% $1,200,391 56 CHICO'S FAS INC. 40.5 531,108 68 CROSS COUNTRY INC. 26.9 639,953 52 BANKATLANTIC 24.4 558,088 7 LENNAR CORP. 21.4 7,319,802 REVENUE LOSSES (More than $500 million total revenue) Revenues Rank Company % Change (in thousands) 40 MASTEC INC. -31.5% $838,055 35 MPS GROUP INC. -25.4 1,154,970 49 DYCOM INDUSTRIES -24.5 624,021 58 KFORCE INC. -22.0 513,547 18 SPHERION CORP. -20.7 2,116,067 RANK Name Phone 2003 2002 City (Symbol-Stock Exchange) Website 1 1 AUTONATION INC. (954) 769.6000 Fort Lauderdale (AN - NYSE) autonation.com 2 2 TECH DATA CORP. (727) 539-7429 Clearwater (TECO - Nasdaq) techdata.com 3 3 WINN-DIXIE STORES INC. (904) 783-5000 Jacksonville (WIN - NYSE) winn-dixie.com 4 4 OFFICE DEPOT INC. (561) 438-4800 Delray Beach (ODP - NYSE) officedepot.com 5 5 FPL GROUP INC. (561) 694-4000 Juno Beach (FPL - NYSE) fplgroup.com 6 NR CSX CORP. (1) (904) 359-3200 Jacksonville (CSX - NYSE) csx.com 7 6 LENNAR CORP. (305) 559-4000 Miami (LEN - NYSE) lennar.com 8 7 RYDER SYSTEM INC. (305) 500-3726 Miami (2) (R - NYSE) ryder.com 9 10 DARDEN RESTAURANTS INC. (407) 245-4000 Orlando (DRI -NYSE) darden.com 10 8 CARNIVAL CORP. (305) 599-2600 Miami (CCL- NYSE) carnivalcorp.com 11 9 JABIL CIRCUIT INC. (727) 577-9749 St. Petersburg (JBL-NYSE) jabil.com 12 13 ROYAL CARIBBEAN CRUISES LTD. (305) 539-6000 Miami (RCL - NYSE) rccl.com 13 14 HUGHES SUPPLY INC. (407) 841-4755 Orlando (HUG - NYSE) hughessupply.com 14 17 TECO ENERGY INC. (813) 228-4111 Tampa (TE- NYSE) tecoenergy.com 15 18 REPUBLIC SERVICES INC. (954) 769-2400 Fort Lauderdale (RSG - NYSE) republicservices.com 16 20 OUTBACK STEAKHOUSE INC. (813) 282-1225 Tampa (OSI- NYSE) outback.com 17 25 HEALTH MANAGEMENT (239) 598-3131 ASSOCIATES INC. hma-corp.com Naples (HMA-NYSE) 18 16 SPHERION CORP. (954) 308-7600 Fort Lauderdale (SFN - NYSE) spherion.com 19 23 FRESH DEL MONTE PRODUCE INC. (305) 520-8400 Coral Gables (FDP - NYSE) freshdelmonte.com 20 24 WALTER INDUSTRIES INC. (813) 871-4811 Tampa (WLT - NYSE) walterind.com 21 22 HARRIS CORP. (321) 727-9100 Melbourne (HRS - NYSE) harris.com 22 26 PSS WORLD MEDICAL INC. (904) 332-3000 Jacksonville (PSSI - Naudaq) pssd.com 23 21 DANKA BUSINESS SYSTEMS PLC (727) 576-6003 St. Petersburg danka.com (DANKY - Nasdaq) 24 27 RAYMOND JAMES FINANCIAL INC. (727) 567-1000 St. Petersburg (RJF - NYSE) rjf.com 25 31 LANDSTAR SYSTEM INC. (904) 398-9400 Jacksonville (LSTR - Nasdaq) landstar.com 26 30 SPORTS AUTHORITY INC. (3) (954) 735-1701 Fort Lauderdale (TSA - NYSE) thesportsauthority.com 27 32 STEIN MART INC. (904) 346.1500 Jacksonville (SMRT - Nasdaq) steinmart.com 28 NR TECHNICAL OLYMPIC USA (954) 364-4000 Hollywood (TOUS - Nasdaq) tousa.com 29 29 WORLD FUEL SERVICES CORP. (305) 884-2001 Miami Springs (INT - NYSE) wfscorp.com 30 39 WCI COMMUNITIES INC. (239) 947-2600 Bonita Springs (WCI - NYSE) wcicommunities.com 31 44 PRIORITY HEALTHCARE CORP. (407) 804-6700 Lake Mary (PHCC- Nasdaq) priorityhealthcare.com 32 35 IVAX CORP. (305) 575-6000 Miami (IVX - AMEX) ivax.com 33 33 WATSCO INC. (305) 714-4100 Coconut Grove (WSO - NYSE) watsco.com 34 NR U.S. INDUSTRIES INC. (4) (561) 514-3838 West Palm Beach (USI - NYSE) usindustries.com 35 28 MPS GROUP INC. (904) 360-2000 Jacksonville (MPS - NYSE) mpsgroup.com 36 37 RAYONIER INC. (904) 357-9100 Jacksonville (RYN - NYSE) rayonier.com 37 38 TUPPERWARE CORP. (407) 826-5050 Orlando (TUP - NYSE) tupperware.com 38 40 CLAIRE'S STORES INC. (954) 433-3900 Pembroke Pines (CLE - NYSE) clairestores.com 39 43 LINCARE HOLDINGS INC. (727) 530-7700 Cleareater (LNCR - Nasdaq) lincare.com 40 34 MASTEC INC. (305) 599-1800 Miami (MTZ - NYSE) mastec.com 41 45 ANDRX CORP. (954) 584-0300 Davie (ADRX - Nasdaq) andrx.com 42 47 ELIZABETH ARDEN INC. (305) 818-8000 Miami Lakes (RDEN - Nasdaq) elizabetharden.com 43 51 AIRTRAN HOLDINGS INC. (407) 251-5600 Orlando (AAI - NYSE) airtran.com 44 48 APPLICA INC. (305) 362-2611 Miami Lakes (APN - NYSE) applicainc.com 45 49 FLORIDA ROCK INDUSTRIES INC. (904) 355-1781 Jacksonville (FRK - NYSE) flarock.com 46 41 ST. JOE CO. (904) 396-6600 Jacksonville (JOE - NYSE) joe.com 47 54 WORKFLOW MANAGEMENT INC. (561) 659-6551 Palm Beach (WORK - Nasdaq) workflowmanagement.com 48 60 CROSS COUNTRY INC. (561) 998-2232 Boca Raton (CCRN - Nasdaq) crosscountry.com 49 42 DYCOM INDUSTRIES INC. (561) 627-7171 Palm Beach Gardens (DY - NYSE) dycomind.com 50 55 GLOBAL IMAGING SYSTEMS INC. (813) 960-5508 Tampa (GISX - Nasdaq) global-imaging.com 51 57 WACKENHUT CORRECTIONS CORP. (561) 893-0101 Boca Raton (WHC - NYSC) wcc-corrections.com 52 65 BANKATLANTIC BANCORP INC. (954) 760-5000 Fort Lauderdale (BBX - NYSE) bankatlantic.com 53 58 INTERNATIONAL SPEEDWAY CORP. (386) 254-2700 Daytona Beach (ISCA - Nasdaq) iscmotorsports.com 54 72 F.N.B. CORP. (239) 262-7600 Naples (FBAN - Nasdaq) fnbcorporation.com 55 59 MARINEMAX INC. (727) 531-1700 Clearwater (HZO - NYSE) marinemax.com 56 73 CHICO'S FAS INC. (239) 277-6200 Fort Myers (CHS - NYSE) chicos.com 57 56 CITRIX SYSTEMS INC. (954) 267-3000 Fort Lauderdale (CTXS - Nasdaq) citrix.com 58 52 KFORCE INC. (813) 552-5000 Tampa (KFRC - Nasdaq) kforce.com 59 50 B/E AEROSPACE INC. (561) 791-5000 Wellington (BEAV - Nasdaq) beaerospace.com 60 46 VECTOR GROUP LTD. (305) 579-8000 Miami (VGR - NYSE) liggettgroup.com 61 63 NATIONAL BEVERAGE CORP. (954) 581-0922 Fort Lauderdale (FIZ - AMEX) nbcfiz.com 62 80 MEDICAL STAFFING NETWORK (561) 322-1300 HOLDINGS Boca Raton mnshealth.com (MRN - NYSE) 63 64 LNR PROPERTY CORP. (305) 695-5500 Miami Beach (LNR - NYSE) Inrproperty.com 64 77 PEDIATRIX MEDICAL (954) 384-0175 GROUP INC. pediatrix.com Sunrise (PDX - NYSE) 65 66 TROPICAL SPORTSWEAR (813) 249-4900 INTERNATIONAL tsionline.com Tampa (TSIC - Nasdaq) [66] NR NATIONSRENT INC. (954) 760-6550 Fort Lauderdale (NRNTQ nationsrent.com - OTC) 67 76 BROWN & BROWN INC. (386) 252-9601 Daytona Beach (BRO - brown-n-brown.com NYSE) 68 61 SYKES ENTERPRISES INC. (813) 274-1000 Tampa (SYKE - Nasdaq) sykes.com 69 68 CATALINA MARKETING CORP. (727) 579-5000 St. Petersburg (POS - catmktg.com NYSE) 70 75 RAILAMERICA INC. (561) 994-6015 Boca Raton (RRA - NYSE) railamerica.com 71 74 PHOTRONICS INC. (561) 745-1222 Jupiter (PLAB - Nasdaq) photronics.com 72 70 REGENCY CENTERS CORP. (904) 598-7000 Jacksonville (REG - NYSE) regencycenters.com 73 11 GEVITY HR INC. (941) 741-4300 Bradenton (GVHR - Nasdaq) gevityhr.com 74 62 ARTESYN TECHNOLOGIES INC. (561) 451-1000 Boca Raton (ATSN - artesyn.com Nasdaq) 75 81 BANKUNITED FINANCIAL (305) 569-2000 CORP. bankunitedfla.com Coral Gables (BKUNA - Nasdaq) 76 71 ALL AMERICAN (305) 621-8282 SEMICONDUCTOR INC. allamerican.com Miami (SEMI - Nasdaq) 77 78 SEABULK INTERNATIONAL (954) 523-2200 INC. seabulkinternational.com Fort Lauderdale (SBLK - Nasdaq) 78 69 REPTRON ELECTRONICS INC. (813) 854-2351 Tampa (REPT - Nasdaq) reptron.com 79 85 PERRY ELLIS INTERNATIONAL (305) 592-2830 INC. perryelliscorporate.com Miami (PERY - Nasdaq) 80 84 ARMO HOLDINGS INC. (904) 741-5400 Jacksonville (AH - NYSE) armorholdings.com 81 83 FLORIDA EAST COAST (904) 829-3421 INDUSTRIES INC. feci.com St. Augustine (FLA - NYSE) 82 105 CENTRAL EUROPEAN (941) 330-1558 DISTRIBUTION ced-c.com Sarasota (CEDC - Nasdaq) 83 101 iDINE REWARDS NETWORK (305) 892-3343 INC. idine.com Miami (IRN - AMEX) 84 88 BLUEGREEN CORP. (561) 912-8000 Boca Raton (BXG - NYSE) bluegreenonline.com 85 89 PAXSON COMMUNICATIONS (561) 659-4122 CORP. pax.tv West Palm Beach (PAX - AMEX) 86 82 BOCA RESORTS INC. (561) 447-5300 Boca Raton (RST - NYSE) bocaresortsinc.com 87 106 DRUGMAX INC. (727) 533-0431 Clearwater (DMAX - drugmax.com Nasdaq) 88 92 SBA COMMUNICATIONS CORP. (561) 995-7670 Boca Raton (SBAC - sbasite.com Nasdaq) 89 79 JLM INDUSTRIES INC. (813) 632-3300 Tampa (JLMI - Nasdaq) jlmgroup.com 90 87 Z-TEL TECHNOLOGIES INC. (813) 273-6261 Tampa (ZTEL - Nasdaq) z-tel.com 91 98 FPIC INSURANCE GROUP INC. (904) 354-2482 Jacksonville (FPIC - fpic.com Nasdaq) 92 95 CATALINA LIGHTING INC. (305) 558-4777 Miami (CALA - Nasdaq) catalinaltg.com 93 93 ECLIPSYS CORP. (561) 322-4321 Boca Raton (ECLP - eclipsys.com Nasdaq) 94 99 E COM VENTURES INC. (305) 889-1600 Miami (ECMV - Nasdaq) perfumanla.com 95 94 NABI BIOPHARAMACEUTICALS (561) 989-5800 Boca Raton (NABI - Nasdaq) nabl.com (96) NR SUMMIT AMERICA TELEVISION INC. (786) 206-0047 Naples (SATH - Nasdaq) summitamericatv.com 97 96 NEFF CORP. (305) 513-3350 Miami (NFFCA - OTC) neffcorp.com 98 115 AVATAR HOLDING INC. (305) 442-7000 Coral Gables (AVTR - Nasdaq) avatarhomes.com 99 102 FLANDERS CORP. (727) 822-4411 St. Petersburg (FLDR - Nasdaq) flanderscorp.com 100 116 CHECKERS DRIVE-IN (813) 283-7000 RESTAURANTS INC. checkers.com Tampa (CHKR - Nasdaq) 101 91 ANSWERTHINK INC. (305) 375-8005 Mlami (ANSR - Nasdaq) answerthink.com 102 144 KOS PHARAMACEUTICALS INC. (305) 577-3464 Mlami (KOSP - Nasdaq) kospharm.com 103 109 HEICO CORP. (954) 987-4000 Hollywood (HEI - NYSE) heico.com 104 90 OCWEN FINANCIAL CORP. (561) 682-800 West Palm Beach (OCN - NYSE) ocwen.com 105 114 BENIHANA INC. (305) 593-0770 Mlami (BNHN - Nasdaq) benihana.com 106 107 CORRECTIONAL SERVICES CORP. (941) 953-9199 Sarasota (CSCQ - Nasdaq) correctionalservices.com 107 111 ROADHOUSE GRILL INC. (954) 957-2600 Pompano Beach (GRLL - OTC) roadhousegrill.com 108 103 REPUBLIC BANCSHARES INC. (727) 823-7300 St. Petersburg republicbankfl.com (REPB - Nasdaq) 109 120 FIDELITY BANKSHARES INC. (561) 803-9900 West Palm Beach fidfed.com (FFFL - Nasdaq) 110 117 BAIRNCO CORP. (407) 875-2222 Lake Mary (BZ - NYSE) bairncom.com 111 131 METROPOLITAN HEALTH (561) 805-8500 NETWORKS INC. metcare.com West Palm Beach (MDPA - OTC) 112 127 HARBOR FLORIDA BANCSHARES INC. (772) 641-2414 Fort Pierce harborfederal.com (HARB - Nasdaq) 113 128 RAMSAY YOUTH SERVICES (8) (305) 569-6993 Coral Gables (RYOU - Nasdaq) ramsay.com 114 119 SUPERIOR UNIFORM GROUP INC. (727) 397-9611 Seminole (SGC - AMEX) superioruniformgroup.com 115 121 CAPITAL CITY BANK GROUP INC. (850) 671-0300 Tallahassee (CCBG - Nasdaq) ccbg.com 116 130 SPANISH BROADCASTING (305) 441-6901 SYSTEM INC. spanishbroadcasting.com Coconut Grove (SBSA - Nasdaq) 117 132 RICA FOODS INC. (305) 365-9694 Key Biscayne (RCF - AMEX) ricafoods.com 118 110 KOGER EQUITY INC. (561) 395-9666 Boca Raton (KE - NYSE) koger.com 119 104 CONCORD CAMERA CORP. (954) 331-4200 Hollywood (LENS - Nasdaq) concordcam.com 120 137 QEP CO. INC. (561) 994-5550 Boca Raton (QEPC - Nasdaq) qep.com 121 133 MARITRANS INC. (813) 209-0600 Tampa (TUG - NYSE) maritrans.com 122 126 REGENERATION TECHNOLOGIES INC. (386) 418-8888 Alachua (RTIX - Nasdaq) regenerationtechnologies. com 123 135 BEASLEY BROADCAST GROUP INC. (239) 263-5000 Naples (BBGI - Nasdaq) bbgi.com 124 123 PARADYNE NETWORKS INC. (727) 530-2000 Largo (PDYN - Nasdaq) paradyne.com 125 136 CONTINUCARE CORP. (305) 350-7515 Miami (CNU - AMEX) continucare.com 126 149 EQUITY ONE INC. (305) 947-1664 North Miami Beach (EQY - NYSE) equityone.net 127 147 ABLEST INC. (727) 299-1200 Clearwater (AIH - AMEX) ablest.com 128 141 TODHUNTER INTERNATIONAL INC. (561) 655-8977 West Palm Beach (THT - AMEX) todhunter.com 129 118 APPLIED DIGITAL SOLUTIONS INC. (561) 805-8000 Palm Beach (ADSX - Nasdaq) adsx.com 130 140 ELXSI CORP. (407) 849-1090 Orlando (ELXS - Nasdaq) cuesinc.com 131 153 COMMERCIAL NET LEASE (407) 265-7348 REALTY INC. cnireit.com Orlando (NNN - NYSE) 132 134 PATRIOT TRANSPORTATION HOLDING (904) 396-5733 Jacksonville (PATR - Nasdaq) patriottrans.com 133 154 WHITMAN EDUCATION GROUP (305) 575-6510 INC. (9) whitmaneducation.com Miami (WIX - AMEX) 134 139 INNKEEPERS USA TRUST (561) 835-1800 Palm Beach (KPA - NYSE) innkeepersusa.com 135 146 DIXON TICONDEROGA CO. (407) 829-9000 Heathrow (DXT - AMEX) dixonticonderoga.com 136 143 FLORIDA PUBLIC UTILITIES CO. (561) 832-2461 West Palm Beach (FPU - AMEX) fpuc.com 137 142 SEACOAST BANKING CORP. (772) 287-4000 OF FLORIDA seacoastcorp.com Stuart (SBCF - Nasdaq) 138 148 SRI/SURGICAL EXPRESS INC. (813) 891-9550 Tampa (STRC - Nasdaq) surgicalexpress.com 139 156 PERMA-FIX ENVIRONMENTAL (352) 373-4200 SERVICES perma-fix.com Gainesville (PESI - Nasdaq) 140 138 CLAXSON INTERACTIVE GROUP INC. (305) 894-3574 Miami Beach (XSON - OTC) claxson.com 141 151 TRAILER BRIDGE INC. (904) 751-7100 Jacksonville (TRBR - Nasdaq) trailerbridge.com 142 160 NUCO2 INC. (772) 221-1754 Stuart (NUCO - Nasdaq) nuco2.com 143 161 AMERICA ONLINE LATIN (954) 689-3000 AMERICA INC. aolamericas.com Fort Lauderdale (AOLA - Nasdaq) 144 158 PARLUX FRAGRANCES INC. (954) 316-9008 Fort Lauderdale (PARL - Nasdaq) parlux.com 145 NR GENCOR INDUSTRIES INC. (407) 290-6000 Orlando (GCRX - OTC) gencor.com 146 204 SFBC INTERNATIONAL INC. (305) 895-0304 Miami (SFCC - Nasdaq) sfbci.com 147 163 SUN HYDRAULICS CORP. (941) 362-1200 Sarasota (SNHY - Nasdaq) sunhydraulics.com 148 NR WHITNEY INFORMATION NETWORK (239) 542-8999 Caps Coral (RUSS - OTC) russwhitney.com 149 164 SPORTSLINE.COM INC. (954) 351-2120 Fort Lauderdale (SPLN - Nasdaq) sportsline.com 150 197 SINGING MACHINE CO. INC. (954) 596-1000 Coconut Creek (SMD - AMEX) singingmachine.com 151 166 STREICHER MOBILE FUELING INC. (954) 308-4200 Fort Lauderdale...
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