People, Companies & Deals

November 14, 2007

Bill Linginfelter is out as Wachovia Corp.'s Georgia president. The North Carolina-based bank reduced the number of state CEOs from six to three, and consolidated five regional president bank areas. The changes began Nov. 1, Linginfelter's last day with the bank.

Airport Revenue News has named Hartsfield-Jackson Atlanta International's Benjamin DeCosta as its 2007 best director of the year in the large/medium airports category. 

To bolster its business immigration practice, Fisher & Phillips LLP has formed a global immigration practice to handle immigration and emigration needs for large multinational corporations, small businesses and individuals. The practice also will handle transfers between countries outside the United States.

RockBridge Commercial Bank named David Fentress as its senior VP in charge of commercial real estate activities.

Jeff Wrona has joined Implantable Provider Group as chief financial officer. Christopher Lee also has signed on with the company as executive VP of commercial operations.

Mary Ellen Garrett and Rod Westmoreland of Merrill Lynch have been named to Worth Magazine's "Top 100 Wealth Advisors" list. In addition, Research Magazine recognized Westmoreland and the Westmoreland Group in its annual ranking of top financial advisor teams called "The Winner's Circle." Westmoreland also gained national recognition as part of an elite group of financial advisers ranked on Barron's 2007 list of the "Top 100 Financial Advisers."

Inc. Magazine ranked EZ Fuel & Tank Solutions No. 697 on its first "Inc. 5,000 List of the Fastest Growing Private Companies" in the country. The company's sales growth for the three-year period ending December 2006 was 478 percent. EZ Fuel & Tank Solutions is a nationwide provider of aboveground fuel systems. 

UPS reported a 9.4 percent increase in adjusted diluted earnings per share for its third quarter on a 4.7 percent gain in revenue.

Equifax Inc.'s profit dropped in the third quarter, as the company benefited from litigation and the reversal of some income tax reserves in the comparable period of 2006. The company had net income of $67.9 million on $492.5 million in revenue, compared with net income of $78.9 million on $394.6 million in revenue in the third quarter of 2006.
 
Fidelity Southern Corp. reported its profit decreased about 40 percent in the third quarter, due mostly to a $2.7 million increase in its loan loss provision. The banking and insurance company recorded net income of $1.7 million and earnings of 18 cents a share, compared with net income of $2.8 million and earnings of 30 cents a share for the third quarter of 2006.
 
SunTrust Banks, hurt by the slumping housing and mortgage industries, said third quarter earnings slid 23 percent. The bank said net income fell to $412.6 million, or $1.18 per share, from $535.6 million, or $1.47 per share in the year-ago quarter.
 
Georgia Bancshares Inc. reported its profit fell 23 percent in the third quarter. The parent of The Bank of Georgia had net income of $706,888, or 24 cents a share, in the third quarter. This compares with net income of $917,519, or 33 cents a share, in the third quarter of 2006.

Alpharetta-based ChoicePoint swung to a third quarter profit despite a slowdown in its hiring screening business. The company posted a net profit of $1.25 million, or 2 cents per share, compared to a loss of $72.2 million, or 86 cents per share, in the same period last year.

Lockheed Martin Corp. reported a 22 percent gain in net income, led by its aeronautics unit in metro Atlanta.

Oilfield services and equipment company RPC Inc. saw its net income fall 48.2 percent in the third quarter, partially reflecting continued lower pricing for its services. It recorded net income of $14.9 million on $162 million in revenue, compared with net income of $28.8 million on $154.2 million in revenue in the third quarter of 2006.

North American demand dropped as costs rose, but Coca-Cola Enterprises Inc. still had net income growth in the third quarter. The Atlanta-based Coke products marketer and distributor posted net income of $268 million on $5.4 billion in revenue, compared with net income of $213 million on $5.2 billion in revenue in the third quarter of 2006.

Rollins Inc. profited from an increase in revenue in the third quarter. The Atlanta-based parent company of Orkin Inc., Western Pest Services and The Industrial Fumigant Co. had net income of $18.8 million, and earnings of 28 cents a share, on $238.1 million in revenue.

Southern Company reported a 3.3 percent rise in net profit in the third quarter, to $762 million, or $1 per share, from $738 million or 99 cents per share a year earlier. Third quarter revenue was $4.83 billion, up 6.2 percent from $4.55 billion.

Newell Rubbermaid's profit rose 57 percent in the third quarter. The company said net income was $170 million, or 61 cents a share, vs. $109 million, or 39 cents a share, a year earlier. Revenue rose 6.4 percent to $1.69 billion.

IntercontinentalExchange Inc. reported a sizable jump in revenue and net income. The Atlanta-based energy and commodity exchange operator had net income of $66.7 million on $151.7 million in revenue, compared with net income of $43.6 million on $94.7 million in revenue in the third quarter of 2006.

Modular carpet company Interface Inc.'s sales continued to rise, but its profit slipped in the third quarter. It had a net income of $8.6 million on $279.5 million in sales, compared with net income of $9.1 million on $234.2 million in sales in the third quarter of 2006. Earnings were 14 cents a share, down from earnings of 17 cents a share in the third quarter of 2006.

Transcend Services Inc., an Atlanta-based medical transcription technology company, reported net income of $1.7 million on $10.6 million in revenue, compared with net income of $320,000 on $8 million in revenue in the third quarter of 2006. Earnings were 50 cents a share, up from earnings of 4 cents a share in the third quarter of 2006.

EarthLink Inc. went deeper into the red in the third quarter. The Atlanta-based Internet service provider had a net loss of $79.4 million on $298.8 million in revenue, compared with a net loss of $3.2 million on $331.3 million in revenue in the third quarter of 2006. Loss per share was 65 cents, compared with a loss per share of 2 cents in the third quarter of 2006.