Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

ARMOR HOLDINGS UPS EARNINGS ESTIMATE

Armor Holdings Inc. said Tuesday it was increasing its earnings per share estimate for the second quarter ending June 30 from 60-65 cents per share to 70-75 cents per share. The Jacksonville-based manufacturer said the increase was primarily the result of meeting the Army's request for accelerating the application of armor plating to Humvees. Armor said there is no change to its previous guidance of $1.95-$2.05 earnings per share for all of 2004 because the work is being accelerated, not added.

Separately, Armor announced a proposed public offering and sale of 4 million shares of its common stock, pursuant to federal approval. Up to 600,000 additional shares may be also sold. The proceeds from the share offering will pay for future acquisitions, allow the company "to take advantage of business development opportunities," and pay for capital expenses.

AIRPORT AUTHORITY OFFICES LOSE RIB EATERY

Ribs On Wheels, one of two small lunchtime eateries that recently opened in the Jacksonville Airport Authority administration building, closed on Friday. Owner Mark Ansley said business was too slow because people couldn't find his stand, tucked away inside the building east of Pecan Park Road. Since opening in January, some days he said he sold only $5 worth of food while trying to cover expenses of $110-$120.

Ansley, who also owns Ribs On Wheels in Riverside, plans to retrofit an RV into a mobile kitchen to sell food to employees at the airport and surrounding businesses. He estimated he owes the Airport Authority $3,000-$4,000 in rent; he plans to work out a payment schedule later this week. Subway, the other dining option in the administration building, remains open. Subway franchisee Deborah White said she's "pleased" with her sales.

EX-HEALTHSOUTH EXEC GETS PROBATION

BIRMINGHAM, Ala. -- A federal judge rejected prison time for a key figure in the HealthSouth fraud scandal Tuesday as the company said its review of the scam found $3.4 billion in false entries and bad accounting, The Associated Press reported.

Kenneth Livesay, a former assistant controller and information officer at HealthSouth, was sentenced to six months of home detention and five years on probation. …

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