Johnson City Press from Johnson City, Tennessee • 31

JOHNSON CITY PRESS Sundae November 5 2000 Page 31 King earnings rise during third quarter King Pharmaceuticals Inc Fridey reports! net earnings of $457 million up 479 percent from $309 million in the same period last year For the nine months ending Sept 30 net earnings totaled $1146 million excldding special charges a 528 percent increase over net earnings of $75 million in the first three quarters of 1999 King recorded special charges totaling $921 million in the third quarter including $344 million in merger and restructuring costs related to its acquisition of Jones Pharma Inc The company also received charges of $518 million related to the discontinuation of its Fluogen flu vaccine and $61 million related the discontinuation of Pallacor development has dramatically reduced its outstanding longterm debt during 2000 by paying off a total of $4127 million through proceeds from the sale of wwumiuu btUCK the mergers with Jones (Pharma) and Medco and cash received pursuant to our copromotion agreement with American Home Products" King Chief Financial Officer James Lattanzi said Verizon Verizon Communications the United biggest local phone company reported Monday that adjusted net income for the third quarter totaled $1988 billion matching forecasts as rapidly expanding businesses such as high-speed data transmission made up for slow growth in the local phone services market Earnings per share adjusted to reflect profits from Vodafone US wireless properties that were combined with Verizon this year came in at 73 cents up from 72 cents a year earlier Adjusted earnings in the sz 'ter year earlier were $1997 billion Revenue rose 72 percent from a year earlier to $165 billion Verizon said revenue would have increased 74 percent if workers at the company had not gone on strike in August In 2001 revenue from continuing operations will rise to the target level of 8 percent to 10 percent Verizon said The company formed through the merger of Bell Atlantic Corp and GTE Corp reported net income of $35 billion up from $25 billion a year earlier The domestic telecommunications business which mainly offers traditional phone services produced $109 billion in revenue up 41 percent from a year earlier Within that unit revenue from data services rose 30 percent to $16 billion during the quarter making up for slower growth from other services Revenue from the domestic cent to $4 billion while sales in the international business -increased 145 percent to $512 million In a conference call with reporters and analysts Venzon officials said it boosted the number of customers for its highspeed digital subscriber line (DSL) service by more than one-third to 3500000 dunng the quarter The company expects the total to rise to more than 500000 by the end of the year The wireless operation which recently indefinitely postponed an initial public stock offering planned for late this fall won 806000 new customers in the quarter The customer turnover rate was virtually unchanged at 25 percent but remained lower than the 3 percent churn rate reported by Sprint PCS a few weeks ago want to get that (chum) cial said on the call Venzon rallied in long-distance services reporting 12 million new long- distance customers in New York state since it began offering long-distance service there in January as Bell Atlantic Nationwide Venzon has about 48 million long-distance customers If the Federal Communications Commission allows Venzon to offer long-distance services in Massachusetts the company could gain revenue of up to $2 billion Verizon said State regulators recommended approval mid-October but the Department of Justice said Friday that the FCC should deny Verizon's application The Justice Department said Verizon has not proved it offers fair access to its copperline network to other companies wanting to offer DSL service The FCC is due to decide on the application by Dec 21 Winn-Dixie to acquire other stores From and wire reports Winn-Dixie Stores Inc will buy 72 grocery stores 32 fuel centers and two liquor stores from Jitney-Jungle Stores of America Inc and related companies for $85 million the supermarket chain announced last week The Jitney-Jungle companies based in Jackson Miss have been operating under Chapter 11 of the Bankruptcy Code since Oct 12 1999 Winn-Dixie has had its own problems in recent months The company announced April that it would close 114 unprofitable stores including its only remaining one in Johnson City Fifty-five of the grocery stores are located in Mississippi 11 in Alabama three in Louisiana and three in Florida stores will give us good market share in a new geographic Winn-Dixie President and Chief Executive Officer Allen Rowland said Most of the stores will become part of Louisiana division and will be serviced from the Hammond Retail support facility which currently has excess capacity Most of the stores will continue to operate under their current Jitney Jungle Jitney Premier Sack Save MegaMarket Delchamps and Pump Save banners Winn-Dixie will interview all of the employees at the stores to be acquired and plans to hire substantially all of the 5600 retail employees at these stores the company said Winn-Dixie has agreed to pay about $85 million plus inventory for the stores which currently generate about $650 million in annual sales tzrziEDa Robin Lincoln Mike Rutherford People in business NeighborhoodFind com has hired Suzie Fisher of Bristol as a district sales manager Fisher has several years of advertising experience She previously worked for Citadel Broadcasting as a sales executive Enhanced Systems Terry Davis and Leanne Walker have achieved special certifications Davis in Navision Financials and Walker in Navision Manufacturing and Advanced Distribution modules Davis has 12 years of experience in client server software development He worked for Texas Instruments before joining Enhanced Systems Consulting nine years ago Walker a certified public accountant has been with the compam for seven vears Oakwood Homes Corp has promoted Mike Rutherford to executive vice president of Oakwood Acceptance Corp LLC the company's finance division Rutherford joined Oakwood in 1994 Before that he was manager of PricewaterhouseCoofiers LLP for eight years Rutherford a Bristol native received a bachelor's degree in accounting from East Tennessee State University The Faneuil Group has rehired Robin Lincoln this time as general services manager Lincoln first began working for The Faneuil Group in 1992 managing the client service organization and major accounts Most recently she worked at Associates Commerce Solutions as senior national account manager Silkworm moths Silkworm moths cannot survive without the care of the humans who raise them Small Business Loans Consumer Loans Come to the Bank Voted Best by the people of Johnson City! Peoples Community Bank 915-2200 IS 1 Ik mr 44 i-1 1 cs DON'T FORGET TO BRING A PEN Celebrity greetings Yahoo! Inc co-founder David Filo displays hand-done greeting cards made by celebrities at Yahoo! headquarters in Santa Clara Calif The original-artwork cards by 1-r model Heidi Klum actress Julia Roberts TV personality A1 Roker and film director George Lucas are some of more than 200 celebrity-made greeting cards to be auctioned during the holiday season over Yahoo! Auctions with all proceeds benefiting the Elizabeth Glaser Pediatric AIDS Foundation (Business Wire Photo) Retailers poised to battle in cyberspace By Anne AP Business Writer NEW YORK When it comes to e-commerce traditional discounters are no longer waiting idly in the wings After several false starts Wal-Mart Stores Inc the world's largest retailer is making a play to be as much a powerhouse online as it is offline reopening its renovated Web site Tuesday Meanwhile Target Corp unveiled iis own redesigned site recently boasting better graphics and an improved search engine And Kmart Corp this week officially flashed its Bluelightcom site after quietly launching it in June With more consumers becoming Web savvy 51 percent of American households are expected to be online this year up from 45 percent last year according to New York-based Jupiter Communications the discount behemoths aim to seize a larger share of the e-commerce pie But the discounters have much catching up to do Despite its stock taking a recent hit e-tailing veteran Amazoncom has dominated traffic on the Web attracting 143 million people to its site in September alone according to Media Metrix That same month Bluelightcom had just 2 million customers while Targetcom attracted 15 million and Walmartcom 14 million But Wal-Mart Kmart and Target say counting on their brand appeal to win customers online Take for example Karen Bakos a 38-year-old New York resident who is a loyal Amazon shopper but is open to shopping online because of the reputation for low prices the sites are easy to use then I would definitely use she said just had a baby and hard to get out I would buy toys and clothing" All three discounters are trying to closely link their online and offline businesses using their stores to advertise the sites through circulars and signs Yet each discounter is also trying to carve out its own niche For example the Minneapolis-based Target is limiting its online offerings to 15000 with a focus on trendy and profitable items like Phillips toasters and Michael Graves housewares Kmart mixes such basic products as baby strollers with image-brand items like Martha Stewart sheets while Bluelight com is selling 300000 items up from 50000 in June Then the Bentonville Ark-based Wal-Mart whose 4-year foray into e-commerce has been rather rocky Its latest Web makeover is being spearheaded by Jeanne Jackson chief executive officer of wal-martcom just a she said adding that the closing was necessary to shift to speedier technology The makeover includes revamping the search engine to make it easier to find any one of 500000 items adding sharper graphics and expanding such categories as toys electronic gadgets and other gift items On the Net: httpwwwbluelightcom com widens lead over circulation tally shows Duke Ingram CLU ChFC rrpriitnin Ohio Savona! heart il SmUcee has complied all he retjuirtmenu to hr certified a a Qualifying and Lift mrmhrr of 2000 Mllwn Dolor Round table Ohio National financial Services salutes Duke tor he excption accomplishments having qualified lor the Million Dollar Round table lor 10 conse-cutise sears re-proud Duke has chosen Ohio National to sersc the financial needs of families individuals and businesses in the Tri-Cities rea exemplifies the prolcssionalism that i our industrs ssould like all agents striving tot It eon seam to talk ssith a real professional ssho interested in sou sour tamils and sou hiMness give Duke a eull up 0 8 percent (1) 10 The Dallas Morning News 513036 up 0 4 percent 11 Chicago Sun-Dmes 471031 up 06 percent 12 The Boston Globe 464472 up 04 percent 13 San Prancisco Chronicle 457028 up 0 06 percent 14 The Arizona Republic 4 15322 up 2 7 percent 15 New York Post 443951 up 13 percent 16 Denver Rocky Mountain News 426465 up 77 percent 1 17 The Denver Post 420033 up 116 percent (1) 18The Star-Ledger of Newark 407537 up 01 percent 19 The Philadelphia Inquirer 400385 up 0 3 percent 20 Star Tnbune of Minneapolis-St Paul 366 357 up 0 06 percent 1 in circulation The Denver Post had an 116 gain in circulation to 420033 and the Denver Rocky Mountain News gained 7 7 percent to 426465 The Newspaper Association of America an industry group said overall daily circulation at the 785 newspapers reporting to the ABC fell 0 4 percent while Sunday circulation was down 0 7 percent Here are the average weekday circulation of the 20 biggest newspapers for the six months ended Sept 30 with percent change from the same period last year as compiled by the Audit Bureau of Circulations: 1 USA Today 1777488 up 1 1 percent 2 The Wall Street Journal 1762751 up 06 percent 3 The New York Times 1097180 up 1 percent 1 Los Angeles Times 1033399 down 4 2 percent 5 The Washington Post 762009 up 0 03 percent 6 New York Daih Neu 704463 up 03 percent 7 Chicago Tribune 618097 down 1 3 percent 8 Newsday of New Long Island 576345 up 02 percent 9 Houston Chronicle 546799 The Associated Press NEW YORK USA Today widened its lead in circulation over The Wall Street Journal in the six-month period ending Sept 30 according to the latest survey by the Audit Bureau of Circulations USA Today which is published by Gannett Co had a 11 percent increase in circulation to 1777488 The Journal published by Dow Jones Co had a 06 percent gain to 1762751 the ABC said in a report released Monday Other major newspapers also saw gains in circulation dunng the period except for the Los Angeles Times down 42 percent to 1033399 and the Chicago Tribune down 13 percent to 618097 The Los Angeles Times now is owned by the Chicago Tribune's parent company Tnbune Co The New York Times circulation gained 1 percent to 1097180 while circulation was essentially flat at The Washington Post at 762009 The two competing newspapers in Denver which have agreed to combine their business functions under a joint operating agreement both saw substantial gains New Horizons' Computer Learning Centers VCirrld leader computer training Af TER OUR INFORMATION TF CHNOLOCfi CERTIFICATION SEMINAR VOU LL BF WRIT'NG YOUR OWN TICK! 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