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A.M. BRIEFING [Florida Times Union](Florida Times Union Via Acquire Media NewsEdge) STEIN MART REPORTS INCOME UP $5M Jacksonville-based Stein Mart Inc., announced Friday the company's net income for the 2012 fiscal year jumped by about $5 million over the previous year. The report also allows the company to retain its listing on the Nasdaq stock market. As of the ending of the fiscal year Feb. 2, Stein Mart had a reported $25 million in net income, up over the $19.9 million for the same time period for the 2011 fiscal year. Stocks came in at 57 cents per diluted share, up over the previous year's 44 cents per diluted share. Friday's announcement and U.S. Securities and Exchange Commission filing were a restating of the company's finances that was necessary to come into compliance with Nasdaq. Officials with that stock market had threatened to "de-list" Stein Mart in September when the company failed to comply with filing guidelines. The company also plans to announce its first quarter and April earnings on Wednesday. Stein Mart has 263 stores nationwide in the chain that retails mainly women's casual sportswear, men's sportswear and linens. Drew Dixon/The Times-Union FLORIDA FIRST CAPITAL TOP SBA LENDER Florida First Capital Finance Corp. was the top Small Business Administration lender by dollar volume for fiscal 2012 in the North Florida district, which stretches from Orlando to Jacksonville and west through the Florida Panhandle. Florida First Capital produced 113 loans totaling $77.4 million. Over the last decade, Florida First Capital has repeatedly held the top SBA lender position in the district. The SBA 504 Loan Program offered through the corporation offers up to 90 percent financing at below-market, fixed-interest rates with amortization terms up to 20 years. Loan proceeds may be used to finance the purchase of major fixed assets, including owner- occupied commercial real estate and/or heavy duty fixed machinery and equipment.Timothy Gibbons/The Times-UnionFEDS INVESTIGATING HOSPITAL CHAIN Health Management Associates, which operates 71 U.S. hospitals including three in North Florida, said its accounting procedures, including payments from government health programs, are being investigated by federal regulators. The company received a subpoena April 25 from the Securities and Exchange Commission for documents including records of payments from Medicare and Medicaid, the U.S. health programs for the elderly and poor. In North Florida, HMA operates Shands Starke, Shands Lake Shore in Lake City and Shands Live Oak. Bloomberg News U.S. CELLULAR TO SELL IPHONE U.S. Cellular, the only major U.S. wireless carrier to resist the iPhone, says it's going to start selling it this year. CEO Mary Dillon announced the reversal Friday on a call with investors and analysts. She didn't specify exactly when or what models it would carry. Dillon says many of the customers leaving the company are doing so because it doesn't carry the iPhone. Associated Press (c) 2013 ProQuest Information and Learning Company; All Rights Reserved. |