Various Biz News stories 1999 2000

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<ul><li><p>Change location Little Rock, AR Weather: 32 F | Clear</p><p> A subscription is required to access daily content. Registration is free.</p><p>Search ArkansasOnlineStories Go</p><p>Delivery date : Sunday, January 02, 2011 7:46:36 pmUsername : kstar72 :: (Log out)Your query : kristal kuykendallCharge for this story: $1.95Publication: Arkansas Democrat-GazettePage(s): BM10Section: BM10Original Date: 11/07/1999</p><p>ENERGY Southwestern Energy hopes for gusher or two soonKRISTAL L. KUYKENDALL ARKANSAS DEMOCRAT-GAZETTE*NW EDITION* Despite being downgraded by two analysts in the past 10 days, and despite negativeearnings results for the third quarter, things aren't really so bad at Southwestern Energy Co. inFayetteville.The company's turnaround is just taking a little longer than expected, analysts say.When Harold Korell Jr. took over as chief executive officer in early 1998, his mission was clear: Turn the tide fora company that had been suffering from low energy prices and sagging demand for its utility services.Korell reorganized Southwestern's exploration and production division, cutting costs drastically and improvingthe efficiency of searching for new wells. He also cut personnel and put his own, handpicked top managers inplace.Although 1998 ended with dismal results -- the company lost $30.6 million -- Korell called it Southwestern's"turnaround year" and predicted better times in 1999.He was partly right, or partly wrong, depending on how you look at it.For the first quarter of 1999, Southwestern reported earnings of $9.13 million, or 37 cents a share, up slightlyfrom the same period a year earlier. But for the second quarter, the company lost $1.7 million, or 7 cents ashare, about the same as the second quarter last year.The third quarter, which ended Sept. 30, also resulted in negative numbers: Southwestern lost $1.9 million, or 8cents a share, on revenue of $60.4 million. It's not unusual for energy companies to suffer minor losses in thesummer and reap profits in the winter, but the net loss in the third quarter is bigger than that of last year's thirdquarter, despite having more revenue this time.Southwestern has continued to strengthen its focus on exploration and production, and its recent $32 millionsale of a small Missouri gas utility unit will allow it to pay down debt, company officials said.The company also benefited from an increase in revenue from its utility systems, which Southwestern officialsattributed to cost cutting and customer growth. The utility unit's net income for the first nine months of 1999 was$10.8 million, up from $10 million the same time last year.However, the results on the production side of the business were lackluster, analysts said. They spurred at leastone of the recent downgradings."Until the company demonstrates it can increase its [production] volumes, there is not any urgency to increaseholdings," explained David Garcia, utility analyst for First Union Securities Inc. Garcia reduced his Southwesternrecommendation from "strong buy" to "buy" Monday.In the third quarter, gas and oil production was 8 billion cubic feet, down from 8.6 billion cubic feet in the sameperiod last year and about the same as the production volume for this year's second quarter. And theyear-to-date production total fell behind last year's figures.Garcia called the recent results "spongy" when compared with the company's previous expectations. But he isn'tdown on Southwestern, he noted."There's a long time element in getting an exploration-production program off the ground," Garcia said. "They'vedone a credible job thus far, and the moves they've been making have made a lot of sense."Analyst Louis Gagliardi of Houston, Texas, investment firm John S. Harold Inc. agrees."The verdict is still out on Southwestern," he said, "but they've got very good management. They likely just needa little more time."Graph: Arkansas Democrat-Gazette/MATT JONES Energy fluctuations Slug Line: Energy 11/7This article was published on page BM10 of the Sunday, November 07, 1999 edition in the BM10section.</p><p>Home News Obituaries Business Entertainment Sports Photos Videos Features Classifieds Jobs Real Estate Autos</p><p>Arkansas Online Archives http://library.ardemgaz.com/ShowArchiveStory.asp?Path=ArD...</p><p>1 of 2 1/2/11 7:47 PM</p></li><li><p>Home | News | Daily Newspaper |Entertainment | Sports | Photos |</p><p>Videos | Weather | Classifieds | Auto |Real Estate | JobsArkansas | Help |</p><p>Terms of Use</p><p>NEWSArkansasToday's NewspaperExtrasObituariesOpinion / LettersReligionNationalPoliticsWorldOffbeatLiving GreenArchivesSister PapersE-mail UpdatesWeather</p><p>BUSINESSBusinessToday's NewspaperBusiness wireTech wire</p><p>SPORTSArkansas SportsToday's NewspaperRazorbacksLR MarathonHigh School NewsHigh School FootballRecruiting Guy BlogSubmit a Hole in OneAP SportsCollege FootballNFLNBA</p><p>MLBPGANASCARTennis</p><p>ENTERTAINMENTEntertainmentWeekendEvents CalendarMoviesMovie FinderMusicDining OutRestaurant FinderToday's NewspaperTravelEntertainment wireComicsOnline gamesSudokuTV listings</p><p>WEB EXTRASFixIt Pothole MapVideoPhotos for purchaseStaff GalleriesCommunity PhotosDatabasesBlogsPollsSupport Groups &amp; ClubsArkansas LinksAP PhotosAP Videos</p><p>COMMUNITY NEWSTri-Lakes EditionRiver Valley &amp; Ozark EditionThree Rivers Edition</p><p>SUBMISSIONSHonors &amp; AchievementsBridal, engagements &amp;</p><p>anniversariesCalendar EventsSupport &amp; Club meetingsLetters to the EditorSubmit a Hole in OneNews Tips</p><p>SPECIAL FEATURESFeatures listInaugurationPrevious News FeaturesA Soldier's WifeWar CasualtiesCentral High: A Look BackDemocrat-Gazette History</p><p>CONTACTForgotten Password?Subscriber HelpFAQ/Contact UsAdvertisingSubmit AchievementsSubmit BridalSubmit EventsSubmit MeetingsSubmit LettersSubmit TipsCorporate</p><p>Newspaper StaffWebsite StaffNewspaper DeliveryFAQ</p><p>TARGETED PUBLICATIONSSyncTri LakesThree RiversRiver Valley &amp; OzarkBridal PlannerArkansas LifeHerStyleSpecial SectionsTaking New PatientsWhere We LiveDowntown Little RockSpelling BeeCapture ArkansasEvents</p><p>PROMOTIONSBridal ShowContestsDemocrat-Gazette Store</p><p>CLASSIFIEDSClassifiedsJobsReal EstateAutoJobs with Us</p><p>ADVERTISINGAdvertise with us</p><p>Site Index</p><p>Copyright 2010, Arkansas Democrat-Gazette, Inc.All rights reserved.This document may not be reprinted without the express written permission of Arkansas Democrat-Gazette, Inc.</p><p>Material from the Associated Press is Copyright 2010, Associated Press and may not be published, broadcast, rewritten, orredistributed. Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcastor publication or redistributed directly or indirectly in any medium. Neither these AP materials nor any portion thereof may be stored in acomputer except for personal and noncommercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissionstherefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing. All rightsreserved.</p><p>Arkansas Online Archives http://library.ardemgaz.com/ShowArchiveStory.asp?Path=ArD...</p><p>2 of 2 1/2/11 7:47 PM</p></li><li><p>Change location Little Rock, AR Weather: 32 F | Clear</p><p> A subscription is required to access daily content. Registration is free.</p><p>Search ArkansasOnlineStories Go</p><p>Delivery date : Sunday, January 02, 2011 7:27:11 pmUsername : kstar72 :: (Log out)Your query : kristal kuykendallCharge for this story: $1.95Publication: Arkansas Democrat-GazettePage(s): D1Section: D1Original Date: 04/28/2000</p><p>StaffMark reports 70% decline in earningsKRISTAL L. KUYKENDALL ARKANSAS DEMOCRAT-GAZETTEFAYETTEVILLE -- StaffMark Inc. on Thursday reported a 70 percent drop in first-quarter earnings andsaid it will sell its Robert Walters finance-staffing unit to refocus on its Internet-solutions division.In addition, more changes are expected in the next few weeks that will bolster StaffMark's new strategy, thecompany said. StaffMark bought Robert Walters Plc, a London-based accounting and finance staffing firm, justtwo years ago.Though revenue for the period ended March 31 rose 5 percent to $294.3 million, StaffMark's earnings fell to $1.9million, or 7 cents a share, down from last year's $6.4 million, or 22 cents a share.StaffMark shares closed down 63 cents at $7.25 Thursday on the Nasdaq stock market.The poor results largely resulted from a slowdown in information-technology business due to year 2000computer issues, analysts said."We were supposed to see the first signs of business picking back up after [January] 2000, but it was still anugly quarter," said Matthew Roswell, an analyst for Legg Mason Wood Walker of Baltimore.Revenue at StaffMark's information-technology and professional segment, which includes Dallas-basedIntelliMark, fell 9 percent during the first quarter, the company said. However, revenue in the commercial staffingsegment grew 15 percent and jumped 47 percent at Edgewater Technology, StaffMark's Internet-services ande-solutions staffing unit.StaffMark Chairman Clete Brewer said the downward trend in the information-technology staffing industry isending, and "we remain cautiously optimistic that we will see growth in the second quarter."Analysts had predicted that after the freeze on computer work due to fears of the 2000 computer bug,information-technology business would pick back up strongly by March or April."But StaffMark is not alone in the Y2K hangover; overall there's been a very slow recovery in information-technology business, plus a market shift to more Internet-related skills as opposed to just traditional tech skills,"Roswell said. "Because of those things, just about every major information-technology company is havingdisappointing earnings in the first quarter."To keep up with that Internet market shift, StaffMark said it will sell Robert Walters through a public offering onthe London Stock Exchange and focus its growth efforts on Edgewater. Other spinoffs of StaffMark segmentsare possible in the future, the company said.Proceeds from the Robert Walters initial public offering, tentatively set for early in the third quarter, will be usedto pay down outstanding bank debt, StaffMark said. The company paid $178.8 million in stock to acquire RobertWalters in early 1998; the unit has been operated separately and has expanded into three more countries.Robert Walters has performed well over the last two years, pulling in $290 million in revenue last year comparedwith $260 million in 1998. Operating income last year totaled $20 million, up from $15 million the year before,StaffMark said. In the first quarter of this year, Robert Walters increased both revenue and income, the companysaid.StaffMark's announcements come eight months after the company hired investment bank Credit Suisse FirstBoston to help map a strategy for turning the company around and pushing up the stock price. Analysts guessedat the time that Credit Suisse might recommend splitting up the company, which had five divisions and 35,000employees at the time."This is a big strategic change for StaffMark. We want to focus on our e-solutions consulting business and investin that more," said Brewer, who also is chief executive. "This [Robert Walters sale] is the first step of severalsteps to maximize shareholder value."Last March the stock crashed after top StaffMark officials realized that IntelliMark, the company's highest-marginbusiness, had serious internal problems. The division was restructured, 12 branch offices were closed, and 80employees were either fired or reassigned.</p><p>Home News Obituaries Business Entertainment Sports Photos Videos Features Classifieds Jobs Real Estate Autos</p><p>Arkansas Online Archives http://library.ardemgaz.com/ShowArchiveStory.asp?Path=ArD...</p><p>1 of 2 1/2/11 7:29 PM</p></li><li><p>Home | News | Daily Newspaper |Entertainment | Sports | Photos |</p><p>Videos | Weather | Classifieds | Auto |Real Estate | JobsArkansas | Help |</p><p>Terms of Use</p><p>NEWSArkansasToday's NewspaperExtrasObituariesOpinion / LettersReligionNationalPoliticsWorldOffbeatLiving GreenArchivesSister PapersE-mail UpdatesWeather</p><p>BUSINESSBusinessToday's NewspaperBusiness wireTech wire</p><p>SPORTSArkansas SportsToday's NewspaperRazorbacksLR MarathonHigh School NewsHigh School FootballRecruiting Guy BlogSubmit a Hole in OneAP SportsCollege FootballNFLNBA</p><p>MLBPGANASCARTennis</p><p>ENTERTAINMENTEntertainmentWeekendEvents CalendarMoviesMovie FinderMusicDining OutRestaurant FinderToday's NewspaperTravelEntertainment wireComicsOnline gamesSudokuTV listings</p><p>WEB EXTRASFixIt Pothole MapVideoPhotos for purchaseStaff GalleriesCommunity PhotosDatabasesBlogsPollsSupport Groups &amp; ClubsArkansas LinksAP PhotosAP Videos</p><p>COMMUNITY NEWSTri-Lakes EditionRiver Valley &amp; Ozark EditionThree Rivers Edition</p><p>SUBMISSIONSHonors &amp; AchievementsBridal, engagements &amp;</p><p>anniversariesCalendar EventsSupport &amp; Club meetingsLetters to the EditorSubmit a Hole in OneNews Tips</p><p>SPECIAL FEATURESFeatures listInaugurationPrevious News FeaturesA Soldier's WifeWar CasualtiesCentral High: A Look BackDemocrat-Gazette History</p><p>CONTACTForgotten Password?Subscriber HelpFAQ/Contact UsAdvertisingSubmit AchievementsSubmit BridalSubmit EventsSubmit MeetingsSubmit LettersSubmit TipsCorporate</p><p>Newspaper StaffWebsite StaffNewspaper DeliveryFAQ</p><p>TARGETED PUBLICATIONSSyncTri LakesThree RiversRiver Valley &amp; OzarkBridal PlannerArkansas LifeHerStyleSpecial SectionsTaking New PatientsWhere We LiveDowntown Little RockSpelling BeeCapture ArkansasEvents</p><p>PROMOTIONSBridal ShowContestsDemocrat-Gazette Store</p><p>CLASSIFIEDSClassifiedsJobsReal EstateAutoJobs with Us</p><p>ADVERTISINGAdvertise with us</p><p>Site Index</p><p>Copyright 2010, Arkansas Democrat-Gazette, Inc.All rights reserved.This document may not be reprinted without the express written permission of Arkansas Democrat-Gazette, Inc.</p><p>Material from the Associated Press is Copyright 2010, Associated Press and may not be published, broadcast, rewritten, orredistributed. Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcastor publication or redistributed directly or indirectly in any medium. Neither these AP materials nor any portion thereof may be stored in acomputer except for personal and noncommercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissionstherefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing. All rightsreserved.</p><p>Since then several outside board members have been added, and StaffMark hired a new chief operating officer,Steven Bova. The company as a whole has been realigning its segments since the fall, separating its staffingareas.After selling Robert Walters, StaffMark will have three segments remaining: Edgewater, Commercial Services,and Professional/IT services, which includes IntelliMark.Roswell, who rates StaffMark "outperform," said he suspects StaffMark might soon decide to spin off either theprofessional services unit with or without IntelliMark or the commercial services unit.Slug Line: bstaffmark28 1d for stateThis article was publ...</p></li></ul>