Owens & Minor is celebrating its 125th anniversary as a leading distributor of medical and surgical supplies. It was founded in Richmond, Virginia in 1882 and has grown into a Fortune 500 company with over $5.5 billion in annual revenue. Owens & Minor prides itself on its culture of exceptional customer service, caring for teammates, and business integrity. In 2006, the company acquired McKesson Medical-Surgical's acute-care business, solidifying its position as the leading medical supply distributor in the healthcare sector. Owens & Minor also moved into a new headquarters building, allowing its employees to work under one roof for the first time.
Owens & Minor is a leading distributor of medical supplies and a healthcare supply chain management company. In 2005, the company reported $4.8 billion in revenue. Owens & Minor serves hospitals, healthcare systems, government organizations, and individuals through a network of distribution centers. The company focuses on improving efficiency and lowering costs for customers through innovative supply chain management solutions focused on product, process, and people.
The document is Marshall & Ilsley Corporation's 2007 Annual Report to Shareholders. It discusses M&I's 160 years of service to customers and community, and commitment to treating customers, employees, shareholders, and the community well. It provides highlights of M&I's 2007 financial performance including net income, income from continuing operations, per-share figures, and return on equity and assets. It also discusses key acquisitions and milestones in 2007 that expanded M&I's presence, as well as challenges faced by the financial industry that year.
Celanese Corporation reported record fourth quarter and full year results for 2007. Key highlights include a 23% increase in fourth quarter net sales compared to the prior year and operating profit more than doubling. For the full year, net sales increased 12% and operating profit increased 21% compared to 2006. Based on continued strength in global markets, the company raised its full year 2008 outlook for adjusted earnings per share and operating EBITDA.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
This annual report summarizes Colgate's financial results for 2002, highlighting record sales, profits, and earnings per share. The report discusses Colgate's strategy of focusing on global brands in core businesses like oral care, personal care, household cleaners, and pet nutrition. It delivers strong growth by following a tightly defined strategy and increasing market leadership positions in key product categories around the world. The annual report provides examples of Colgate's three global values - caring, global teamwork, and continuous improvement - in action to drive the company's global success.
Schering-Plough is a global pharmaceutical company focused on research and developing new therapies. In 2000, the company achieved 8% sales growth to $9.8 billion, led by its pharmaceutical business. Key therapeutic areas include allergy/respiratory, where sales grew 9% to $4.2 billion, driven by the antihistamine Claritin. The company is working to expand its allergy franchise with new products like Clarinex and strengthen its position in other areas like cancer and inflammation. Research and marketing efforts aim to continue delivering new treatments and driving international expansion.
The Progressive Corporation reported its July 2006 results:
- Net premiums written increased 2% to $1.427 billion and net income increased 3% to $148.8 million compared to July 2005.
- The combined ratio improved slightly to 86.6% from 86.9% in July 2005.
- Progressive also announced a joint marketing agreement with Homesite Insurance to offer homeowners insurance to eligible auto insurance customers in a three-state test program by the end of 2006.
Caterpillar's 2003 annual report outlines steps to building a great company. It discusses (1) inventing revolutionary products like tracked machines that became Caterpillar tractors; (2) choosing distribution partners wisely, like the network of over 200 independent and family-owned dealers worldwide; and (3) continually innovating and anticipating customer needs through new technologies like ACERT engines and e-business solutions for dealers.
Owens & Minor is a leading distributor of medical supplies and a healthcare supply chain management company. In 2005, the company reported $4.8 billion in revenue. Owens & Minor serves hospitals, healthcare systems, government organizations, and individuals through a network of distribution centers. The company focuses on improving efficiency and lowering costs for customers through innovative supply chain management solutions focused on product, process, and people.
The document is Marshall & Ilsley Corporation's 2007 Annual Report to Shareholders. It discusses M&I's 160 years of service to customers and community, and commitment to treating customers, employees, shareholders, and the community well. It provides highlights of M&I's 2007 financial performance including net income, income from continuing operations, per-share figures, and return on equity and assets. It also discusses key acquisitions and milestones in 2007 that expanded M&I's presence, as well as challenges faced by the financial industry that year.
Celanese Corporation reported record fourth quarter and full year results for 2007. Key highlights include a 23% increase in fourth quarter net sales compared to the prior year and operating profit more than doubling. For the full year, net sales increased 12% and operating profit increased 21% compared to 2006. Based on continued strength in global markets, the company raised its full year 2008 outlook for adjusted earnings per share and operating EBITDA.
Celanese Corporation reported record second quarter results for 2008, with net sales increasing 20% and operating profit more than doubling compared to the second quarter of 2007. Several of Celanese's business segments saw higher sales and profits driven by increased pricing, volumes, and currency impacts. Despite challenges from higher raw material and energy costs, the company reaffirmed its full-year 2008 outlook for adjusted earnings per share and operating EBITDA.
This annual report summarizes Colgate's financial results for 2002, highlighting record sales, profits, and earnings per share. The report discusses Colgate's strategy of focusing on global brands in core businesses like oral care, personal care, household cleaners, and pet nutrition. It delivers strong growth by following a tightly defined strategy and increasing market leadership positions in key product categories around the world. The annual report provides examples of Colgate's three global values - caring, global teamwork, and continuous improvement - in action to drive the company's global success.
Schering-Plough is a global pharmaceutical company focused on research and developing new therapies. In 2000, the company achieved 8% sales growth to $9.8 billion, led by its pharmaceutical business. Key therapeutic areas include allergy/respiratory, where sales grew 9% to $4.2 billion, driven by the antihistamine Claritin. The company is working to expand its allergy franchise with new products like Clarinex and strengthen its position in other areas like cancer and inflammation. Research and marketing efforts aim to continue delivering new treatments and driving international expansion.
The Progressive Corporation reported its July 2006 results:
- Net premiums written increased 2% to $1.427 billion and net income increased 3% to $148.8 million compared to July 2005.
- The combined ratio improved slightly to 86.6% from 86.9% in July 2005.
- Progressive also announced a joint marketing agreement with Homesite Insurance to offer homeowners insurance to eligible auto insurance customers in a three-state test program by the end of 2006.
Caterpillar's 2003 annual report outlines steps to building a great company. It discusses (1) inventing revolutionary products like tracked machines that became Caterpillar tractors; (2) choosing distribution partners wisely, like the network of over 200 independent and family-owned dealers worldwide; and (3) continually innovating and anticipating customer needs through new technologies like ACERT engines and e-business solutions for dealers.
This annual report summarizes Dollar General's performance for the fiscal year ending February 3, 2006. Some key points:
- Dollar General grew net sales by 12% to $8.6 billion and net income by 2% to $350 million, with earnings per share of $1.08.
- The company opened 734 new stores, including 29 new Dollar General Markets, bringing the total store count to 7,929.
- Initiatives like EZstore and Project Gold Standard aimed to improve store operations and strengthen the organization. Nearly half of stores implemented the EZstore model by year-end.
- Leadership was enhanced with several new executive hires and a reorganization to better
ITW designs and produces fasteners, components, equipment and specialty products for customers around the world through over 750 decentralized business units in 49 countries. In 2006, ITW's revenues increased 10% to $14.1 billion due to 4% base revenue growth, 7% from acquisitions, and it acquired 53 companies representing $1.7 billion in annual revenues to further diversify its business across industries and geographies. Looking ahead, ITW aims to continue growing its business globally, including expanding its presence in emerging markets and Asia Pacific region which it expects to be a significant contributor to future revenue growth.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
Celanese Corporation reported strong third quarter results, with net sales increasing 10% to $1.685 billion compared to the prior year. Operating profit more than doubled to $200 million, driven by increased volumes, higher margins, and lower charges. The company adjusted its full year earnings per share outlook to a range of $2.70 to $2.80 per share, towards the top end of its previous guidance. All business segments saw increased sales and profits compared to the third quarter of 2005.
This annual report summarizes Ameriprise Financial's performance in 2006. Some key points:
- Revenues grew 11% to $8.1 billion and earnings grew 25% to $866 million.
- Total client assets grew 9% to $466 billion and life insurance in force grew 9% to $174 billion.
- The company continued to invest in its brand, advisor force, products, and technology to capitalize on serving the growing mass affluent and affluent market, especially retiring baby boomers who will need financial advice and solutions.
The document discusses a safe harbor statement regarding forward-looking statements in the presentation. It notes that forward-looking statements involve risks and uncertainties that could cause actual performance to differ from expectations. It then provides an overview of Harrah's Entertainment, noting that it is the largest provider of branded casino entertainment in the world with key statistics on its casino space, hotel rooms, employees, and Total Rewards members. It also discusses Harrah's financial strength and diversity of cash flow.
Ken Lewis, Chairman and CEO of Bank of America, presented at the 2006 Goldman Sachs Financial Services Conference. He discussed the company's opportunities for growth, highlighting its plans to achieve growth through selling more products to more customers across its national footprint, effectively managing costs, and capitalizing on opportunities in retail banking, wealth management, and commercial banking. Lewis also emphasized the company's ability to execute on its strategy through leveraging its extensive customer base and innovation capabilities.
This document is Parker Hannifin Corporation's 2001 Annual Report which provides an overview of the company's financial performance and discusses its strategies. The report summarizes that Parker experienced a decline in orders during a manufacturing recession but took steps to reduce costs and maintain margins. It also discusses several acquisitions completed in 2001 to expand its product offerings and industries served. The report outlines Parker's strategy of focusing on customer service, financial performance, and growth to strengthen its position as a leader in motion and control technologies.
This document appears to be the agenda for a budget town hall meeting at Florida International University on April 12, 2010. The agenda includes discussing FY10-11 budget expectations, providing a research update, highlighting new partnerships, and recognizing student achievements. It provides background on declining state funding for universities over the last decade and outlines FIU's budget plan for FY10-11, which anticipates cuts but also new sources of revenue from tuition increases and state stimulus funds. The document discusses recent research awards and grants received by FIU faculty and notes some new partnerships, including an agreement signed with Qingdao City Construction Investment Corp in China.
1) AEP reported 1Q12 GAAP earnings of $0.80 per share, in line with $0.82 per share in 1Q11.
2) Utility operations earnings were $383 million in 1Q12 compared to $389 million in 1Q11, due to unfavorable weather.
3) Transmission operations earnings increased to $9 million in 1Q12 from $4 million in 1Q11.
U.S. Bancorp reported net income of $942 million for Q4 2007, down from $1,194 million in Q4 2006. Earnings per share were $.53 compared to $.66 in Q4 2006. Results were impacted by $215 million in charges related to Visa litigation and $107 million in losses from money market securities. Excluding these charges, earnings were comparable to Q3 2007. Loan and deposit growth was strong, driven by fee businesses. Credit quality remained sound with manageable expected increases in charge-offs and nonperforming assets. The company remains well-capitalized and increased its dividend.
Celanese Corporation reported third quarter results for 2008 with increases in net sales, operating profit, and earnings per share compared to the previous year. However, the company adjusted its full year 2008 outlook downward due to expectations of continued economic slowdown in North America and Europe negatively impacting volumes. Net sales increased 16% to $1.82 billion driven by higher pricing and volumes, while operating profit rose to $151 million. Earnings per share increased to $1.01. The company expects full year adjusted earnings per share between $3.40-$3.55, down from previous guidance, and operating EBITDA between $1.32-$1.355 billion.
Celanese Corporation reported strong fourth quarter and full year 2005 results, with net sales up 19% and 22% respectively. Adjusted earnings per share for the fourth quarter were $0.60, exceeding guidance, and $2.24 for the full year. Adjusted EBITDA rose 40% for the quarter and 44% for the full year due to higher pricing, productivity improvements, and acquisitions offsetting increased costs. For 2006, the company reaffirmed adjusted EPS guidance of $2.50 to $2.90.
Dollar General Corporation is the largest small-box retailer in the US, operating 6,700 stores across 27 states. In fiscal year 2003, Dollar General saw record results with $6.87 billion in sales and $301 million in net income. Dollar General plans to continue its rapid growth by opening 675 new stores in 2004, including entering 3 new states. The company aims to become a leading provider of consumable basic products for underserved customers through conveniently located small stores offering unique products at low prices.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
General Mills' annual report for fiscal year 2008 highlights continued sales growth. Net sales increased 10% to $13.7 billion, with growth across all major divisions. International sales grew 21% and now make up 19% of total sales. Diluted earnings per share grew 17% to $3.71, meeting the company's long-term growth targets. General Mills attributes its success to building strong brands globally, developing new products, increasing marketing investment, partnering effectively with retailers, and focusing on cost savings to protect margins despite rising input costs.
This document outlines the Corporate Governance Guidelines of Owens & Minor, Inc. It discusses the board composition and structure, including director qualifications and independence standards. It also covers director responsibilities, such as basic responsibilities and separation of chairman and CEO roles. Additionally, it addresses board committees, director access to officers, director compensation, and the annual evaluation of the CEO and board performance. The guidelines are intended to ensure strong corporate governance and an effective and independent board.
The document is McGraw-Hill's 2008 annual report which discusses the financial challenges faced by the company that year due to the global recession. It summarizes that revenue declined 6.2% to $6.4 billion while net income fell 21.1% to $799.5 million. However, the company remained profitable and had a strong balance sheet which positioned it well to weather the economic storm. The report discusses questions around what caused the financial crisis, the role of credit ratings, and trends that will shape future capital markets and opportunities.
The document outlines the charter for the Compensation & Benefits Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors who are responsible for overseeing compensation plans and policies, evaluating executive performance, determining compensation for officers including the CEO, and ensuring compliance with regulatory requirements. The charter grants the committee authority to retain outside advisors as needed and sets expectations for regular meetings and annual reviews of committee performance and charter.
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and directors.
It specifies details such as the timing and notification requirements for annual shareholder meetings, what constitutes a quorum, voting procedures, and the process for nominating directors or proposing other business. Shareholders must give advance notice to the Secretary of any intent to nominate directors or propose other business to be considered at the annual meeting. The Chairman of the Board has the power to determine if any nominations or proposals were made in accordance with the bylaw procedures.
The McGraw-Hill Companies 2006 Annual Report summarizes the company's strong financial performance and positions it for continued growth.
1) McGraw-Hill achieved record revenue of $6.3 billion and net income of $882 million in 2006. It also returned $1.8 billion to shareholders through dividends and share repurchases, with a total shareholder return of 33.5%.
2) The company's strategy focuses on expanding globally, developing digital and technology-driven solutions, and investing in its businesses. All business segments are expected to contribute to continued growth in 2007.
3) McGraw-Hill is well-positioned to capitalize on trends in global capital markets, education
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and the board of directors. It discusses where shareholder and board meetings will take place, how notice will be provided, what constitutes a quorum, voting procedures, and rules regarding nominating directors and proposing other business. It also establishes committees like the executive committee and allows the board to form other committees. Finally, it specifies that the officers will consist of a CEO, President, Secretary, and Treasurer and allows for other officers to be elected.
This annual report summarizes Dollar General's performance for the fiscal year ending February 3, 2006. Some key points:
- Dollar General grew net sales by 12% to $8.6 billion and net income by 2% to $350 million, with earnings per share of $1.08.
- The company opened 734 new stores, including 29 new Dollar General Markets, bringing the total store count to 7,929.
- Initiatives like EZstore and Project Gold Standard aimed to improve store operations and strengthen the organization. Nearly half of stores implemented the EZstore model by year-end.
- Leadership was enhanced with several new executive hires and a reorganization to better
ITW designs and produces fasteners, components, equipment and specialty products for customers around the world through over 750 decentralized business units in 49 countries. In 2006, ITW's revenues increased 10% to $14.1 billion due to 4% base revenue growth, 7% from acquisitions, and it acquired 53 companies representing $1.7 billion in annual revenues to further diversify its business across industries and geographies. Looking ahead, ITW aims to continue growing its business globally, including expanding its presence in emerging markets and Asia Pacific region which it expects to be a significant contributor to future revenue growth.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
Celanese Corporation reported strong third quarter results, with net sales increasing 10% to $1.685 billion compared to the prior year. Operating profit more than doubled to $200 million, driven by increased volumes, higher margins, and lower charges. The company adjusted its full year earnings per share outlook to a range of $2.70 to $2.80 per share, towards the top end of its previous guidance. All business segments saw increased sales and profits compared to the third quarter of 2005.
This annual report summarizes Ameriprise Financial's performance in 2006. Some key points:
- Revenues grew 11% to $8.1 billion and earnings grew 25% to $866 million.
- Total client assets grew 9% to $466 billion and life insurance in force grew 9% to $174 billion.
- The company continued to invest in its brand, advisor force, products, and technology to capitalize on serving the growing mass affluent and affluent market, especially retiring baby boomers who will need financial advice and solutions.
The document discusses a safe harbor statement regarding forward-looking statements in the presentation. It notes that forward-looking statements involve risks and uncertainties that could cause actual performance to differ from expectations. It then provides an overview of Harrah's Entertainment, noting that it is the largest provider of branded casino entertainment in the world with key statistics on its casino space, hotel rooms, employees, and Total Rewards members. It also discusses Harrah's financial strength and diversity of cash flow.
Ken Lewis, Chairman and CEO of Bank of America, presented at the 2006 Goldman Sachs Financial Services Conference. He discussed the company's opportunities for growth, highlighting its plans to achieve growth through selling more products to more customers across its national footprint, effectively managing costs, and capitalizing on opportunities in retail banking, wealth management, and commercial banking. Lewis also emphasized the company's ability to execute on its strategy through leveraging its extensive customer base and innovation capabilities.
This document is Parker Hannifin Corporation's 2001 Annual Report which provides an overview of the company's financial performance and discusses its strategies. The report summarizes that Parker experienced a decline in orders during a manufacturing recession but took steps to reduce costs and maintain margins. It also discusses several acquisitions completed in 2001 to expand its product offerings and industries served. The report outlines Parker's strategy of focusing on customer service, financial performance, and growth to strengthen its position as a leader in motion and control technologies.
This document appears to be the agenda for a budget town hall meeting at Florida International University on April 12, 2010. The agenda includes discussing FY10-11 budget expectations, providing a research update, highlighting new partnerships, and recognizing student achievements. It provides background on declining state funding for universities over the last decade and outlines FIU's budget plan for FY10-11, which anticipates cuts but also new sources of revenue from tuition increases and state stimulus funds. The document discusses recent research awards and grants received by FIU faculty and notes some new partnerships, including an agreement signed with Qingdao City Construction Investment Corp in China.
1) AEP reported 1Q12 GAAP earnings of $0.80 per share, in line with $0.82 per share in 1Q11.
2) Utility operations earnings were $383 million in 1Q12 compared to $389 million in 1Q11, due to unfavorable weather.
3) Transmission operations earnings increased to $9 million in 1Q12 from $4 million in 1Q11.
U.S. Bancorp reported net income of $942 million for Q4 2007, down from $1,194 million in Q4 2006. Earnings per share were $.53 compared to $.66 in Q4 2006. Results were impacted by $215 million in charges related to Visa litigation and $107 million in losses from money market securities. Excluding these charges, earnings were comparable to Q3 2007. Loan and deposit growth was strong, driven by fee businesses. Credit quality remained sound with manageable expected increases in charge-offs and nonperforming assets. The company remains well-capitalized and increased its dividend.
Celanese Corporation reported third quarter results for 2008 with increases in net sales, operating profit, and earnings per share compared to the previous year. However, the company adjusted its full year 2008 outlook downward due to expectations of continued economic slowdown in North America and Europe negatively impacting volumes. Net sales increased 16% to $1.82 billion driven by higher pricing and volumes, while operating profit rose to $151 million. Earnings per share increased to $1.01. The company expects full year adjusted earnings per share between $3.40-$3.55, down from previous guidance, and operating EBITDA between $1.32-$1.355 billion.
Celanese Corporation reported strong fourth quarter and full year 2005 results, with net sales up 19% and 22% respectively. Adjusted earnings per share for the fourth quarter were $0.60, exceeding guidance, and $2.24 for the full year. Adjusted EBITDA rose 40% for the quarter and 44% for the full year due to higher pricing, productivity improvements, and acquisitions offsetting increased costs. For 2006, the company reaffirmed adjusted EPS guidance of $2.50 to $2.90.
Dollar General Corporation is the largest small-box retailer in the US, operating 6,700 stores across 27 states. In fiscal year 2003, Dollar General saw record results with $6.87 billion in sales and $301 million in net income. Dollar General plans to continue its rapid growth by opening 675 new stores in 2004, including entering 3 new states. The company aims to become a leading provider of consumable basic products for underserved customers through conveniently located small stores offering unique products at low prices.
Atmos Energy Corporation provides forward-looking statements about its business in this presentation. It operates natural gas utilities in 12 states and nonutility businesses in 22 states. The company has grown through acquisitions, becoming the largest pure-play natural gas distribution company based on customers. It aims to maximize core utility earnings through regulatory strategies including weather normalization adjustment mechanisms, gas cost recovery, and capital investment recovery riders. Nonutility operations in gas marketing and pipeline/storage complement the utility business.
General Mills' annual report for fiscal year 2008 highlights continued sales growth. Net sales increased 10% to $13.7 billion, with growth across all major divisions. International sales grew 21% and now make up 19% of total sales. Diluted earnings per share grew 17% to $3.71, meeting the company's long-term growth targets. General Mills attributes its success to building strong brands globally, developing new products, increasing marketing investment, partnering effectively with retailers, and focusing on cost savings to protect margins despite rising input costs.
This document outlines the Corporate Governance Guidelines of Owens & Minor, Inc. It discusses the board composition and structure, including director qualifications and independence standards. It also covers director responsibilities, such as basic responsibilities and separation of chairman and CEO roles. Additionally, it addresses board committees, director access to officers, director compensation, and the annual evaluation of the CEO and board performance. The guidelines are intended to ensure strong corporate governance and an effective and independent board.
The document is McGraw-Hill's 2008 annual report which discusses the financial challenges faced by the company that year due to the global recession. It summarizes that revenue declined 6.2% to $6.4 billion while net income fell 21.1% to $799.5 million. However, the company remained profitable and had a strong balance sheet which positioned it well to weather the economic storm. The report discusses questions around what caused the financial crisis, the role of credit ratings, and trends that will shape future capital markets and opportunities.
The document outlines the charter for the Compensation & Benefits Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors who are responsible for overseeing compensation plans and policies, evaluating executive performance, determining compensation for officers including the CEO, and ensuring compliance with regulatory requirements. The charter grants the committee authority to retain outside advisors as needed and sets expectations for regular meetings and annual reviews of committee performance and charter.
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and directors.
It specifies details such as the timing and notification requirements for annual shareholder meetings, what constitutes a quorum, voting procedures, and the process for nominating directors or proposing other business. Shareholders must give advance notice to the Secretary of any intent to nominate directors or propose other business to be considered at the annual meeting. The Chairman of the Board has the power to determine if any nominations or proposals were made in accordance with the bylaw procedures.
The McGraw-Hill Companies 2006 Annual Report summarizes the company's strong financial performance and positions it for continued growth.
1) McGraw-Hill achieved record revenue of $6.3 billion and net income of $882 million in 2006. It also returned $1.8 billion to shareholders through dividends and share repurchases, with a total shareholder return of 33.5%.
2) The company's strategy focuses on expanding globally, developing digital and technology-driven solutions, and investing in its businesses. All business segments are expected to contribute to continued growth in 2007.
3) McGraw-Hill is well-positioned to capitalize on trends in global capital markets, education
This document outlines the bylaws of Owens & Minor, Inc. regarding meetings of shareholders and the board of directors. It discusses where shareholder and board meetings will take place, how notice will be provided, what constitutes a quorum, voting procedures, and rules regarding nominating directors and proposing other business. It also establishes committees like the executive committee and allows the board to form other committees. Finally, it specifies that the officers will consist of a CEO, President, Secretary, and Treasurer and allows for other officers to be elected.
1) The McGraw-Hill Companies achieved record financial results in 2007, with revenue growing 8.3% to $6.8 billion and net income rising 14.9% to $1 billion, however challenges emerged as the US housing bubble burst.
2) The company remains focused on providing high-quality information and insights to help customers succeed, while generating superior shareholder value through consistent earnings growth and returning $2.5 billion to shareholders in 2007.
3) While the current market turmoil is difficult to predict, the long-term prospects for the company's markets remain strong due to enduring global trends of needing capital, knowledge, and transparent business information.
This document is the 2006 annual report of a dialysis services provider. It includes a table of contents, letter to stakeholders, and sections on management discussion/analysis, financial statements, risk factors, and other financial data. The letter discusses strong clinical outcomes, successful integration of an acquisition, strong cash flows, earnings exceeding expectations, progress on public policy issues, and a compliant compliance program. It notes challenges in 2007 including government scrutiny, increased competition, and anticipated margin compression.
This document is the 2006 annual report of a dialysis services provider. It includes a table of contents, letter to stakeholders, and sections on management discussion/analysis, financial statements, risk factors, and other financial data. The letter discusses strong clinical outcomes, successful integration of an acquisition, strong cash flows, earnings exceeding expectations, progress on public policy issues, and a compliant compliance program. It notes challenges in 2007 including government scrutiny, increased competition, and anticipated margin compression.
This document is the 2006 annual report of a dialysis services provider. It includes a table of contents, letter to stakeholders, and sections on management discussion/analysis, financial statements, risk factors, and other financial data. The letter discusses strong clinical outcomes, successful integration of an acquisition, strong cash flows, earnings exceeding expectations, progress on public policy issues, and a compliant compliance program. It notes challenges in 2007 including government scrutiny, increased competition, and anticipated margin compression.
This document is the 2006 annual report of a dialysis services provider. It includes a table of contents, letter to stakeholders, and sections on management discussion/analysis, financial statements, risk factors, and other financial data. The letter discusses strong clinical outcomes, successful integration of an acquisition, strong cash flows, earnings exceeding expectations, progress in public policy/compliance, and challenges in 2007 including government scrutiny and increased competition.
This document is the 2006 annual report of a dialysis services provider. It includes a table of contents, letter to stakeholders, and sections on management discussion/analysis, financial statements, risk factors, and other financial data. The letter discusses strong clinical outcomes, successful integration of an acquisition, strong cash flows, earnings exceeding expectations, progress on public policy issues, and a compliant compliance program. It notes challenges in 2007 including government scrutiny, increased competition, and anticipated margin compression.
This document is the 2006 annual report of an unnamed company. It discusses the company's financial performance, integration of a recent acquisition, cash flows, earnings, public policy efforts, and compliance activities for the year. Key highlights include achieving strong clinical outcomes, exceeding integration targets, generating the highest cash flows and earnings in company history, influencing positive payment reforms, and successfully completing a government investigation. The report expresses optimism for the company's future.
This document is an annual report that provides an overview of DaVita's financial performance and operations in 2003. Some key points:
- DaVita achieved strong clinical outcomes in 2003, exceeding national averages in several metrics.
- Treatment growth was 6.7% in 2003, with about 40% from new centers and 60% from increased treatments.
- Average revenue per treatment increased to $303, driven by pharmaceutical prescriptions, commercial rates, and improved billing.
- Operating expenses increased due to higher insurance and legal costs, though productivity improved due to lower turnover.
So in summary, the report discusses DaVita's financial and operating results for 2003, highlighting improved clinical outcomes,
This document is an annual report that provides an overview of DaVita's financial performance and operations in 2003. Some key points:
- DaVita achieved strong clinical outcomes in 2003, exceeding national averages in several metrics.
- Treatment growth was 6.7% in 2003, with about 40% from new centers and 60% from increased treatments.
- Average revenue per treatment increased to $303, driven by pharmaceutical prescriptions, commercial rates, and improved billing.
- Operating expenses increased due to higher insurance and legal costs, though productivity improved due to lower turnover.
So in summary, the report discusses DaVita's financial and operational results for 2003, highlighting improved clinical outcomes,
This document is an annual report that provides an overview of DaVita's financial performance and operations in 2003. Some key points:
- DaVita achieved strong clinical outcomes in 2003, exceeding national averages in several metrics.
- Treatment growth was 6.7% in 2003, with about 40% from new centers and 60% from increased treatments.
- Average revenue per treatment increased to $303, driven by pharmaceutical prescriptions, commercial rates, and improved billing.
- Operating expenses increased due to higher insurance and legal costs, though productivity improved due to lower turnover.
So in summary, the report discusses DaVita's financial and operational results for 2003, highlighting improved clinical outcomes,
This document is an annual report that provides an overview of DaVita's financial performance and operations in 2003. Some key points:
- DaVita achieved strong clinical outcomes in 2003, exceeding national averages in several metrics.
- Treatment growth was 6.7% in 2003, with about 40% from new centers and 60% from increased treatments.
- Average revenue per treatment increased to $303, driven by pharmaceutical prescriptions, commercial rates, and improved billing.
- Operating expenses increased due to higher insurance and legal costs, though productivity improved due to lower turnover.
So in summary, the report discusses DaVita's financial and operating results for 2003, highlighting improved clinical outcomes,
Owens & Minor had strong financial results in 2000. Net sales reached $3.5 billion, up 10% from 1999. Earnings per share were $0.93, up 16% from the previous year. The company grew organically and through the acquisition of Medix. Owens & Minor continued investing in technology to improve customer service and productivity. It strengthened relationships with key customers and signed new supply chain agreements. Productivity gains increased sales and margins per employee. The balanced scorecard approach and technology investments have positioned Owens & Minor for continued success.
This annual report summarizes the company's financial performance and operations in 2005. It discusses the acquisition of DVA Renal Healthcare, the company's clinical outcomes which improved to their best levels, strong cash flows, earnings, and regulatory relationships. It provides an outlook expecting continued demand growth paired with reimbursement pressures compressing margins. The report highlights the company's focus on quality care, employee retention, and strategic initiatives to position it for the future.
This annual report summarizes the company's financial performance and operations in 2005. It discusses the acquisition of DVA Renal Healthcare, which expanded the company's network significantly. It also discusses key metrics like treatment growth, revenue per treatment, expenses, cash flows, earnings, and clinical outcomes. The report expresses confidence in the company's performance and strategy while noting ongoing risks from government policy and reimbursement pressures.
This annual report summarizes the company's financial performance and operations in 2005. It discusses the acquisition of DVA Renal Healthcare, which expanded the company's network significantly. It also discusses key metrics like treatment growth, revenue per treatment, expenses, cash flows, earnings, and clinical outcomes. The report expresses confidence in the company's performance and strategic initiatives to adapt to an environment of increasing reimbursement pressures.
This annual report summarizes the company's financial performance and operations in 2005. It discusses the acquisition of DVA Renal Healthcare, the company's clinical outcomes which improved to their best levels, strong cash flows, earnings, and regulatory relationships. It provides an outlook expecting continued demand growth paired with reimbursement pressures compressing margins. The report highlights the company's focus on quality care, employee retention, and strategic initiatives to position it for the future.
This document is DaVita's 2005 Annual Report. It includes a letter from the Chairman and CEO, Kent Thiry, summarizing the company's financial and operational performance for the year. Some highlights include strong clinical outcomes, successful integration of the Gambro acquisition, record cash flows from operations of $441 million, net earnings of $207 million, and continued investment in strategic initiatives to position the company for the future in an environment of increasing reimbursement pressures. Thiry thanks employees for their resilience and commitment to meeting the needs of patients and other stakeholders.
This annual report summarizes the company's financial performance and operations in 2005. It discusses the acquisition of DVA Renal Healthcare, which expanded the company's network significantly. It also discusses key metrics like treatment growth, revenue per treatment, expenses, cash flows, earnings, and clinical outcomes. The report expresses confidence in the company's performance and strategic initiatives to adapt to an environment of increasing reimbursement pressures.
The 2004 annual report summarizes DaVita's strong financial and operating performance for the year. Key highlights include achieving the best clinical outcomes in the company's history, generating the highest cash flows ever, and growing non-acquired treatments by 6% for the quarter and 5% for the full year through opening new dialysis centers. The report also discusses DaVita's plans to acquire Gambro Healthcare to expand its operations and patient base, as well as continued focus on clinical quality, employee retention, and partnerships with patients and payors.
The 2004 annual report summarizes DaVita's strong financial and operating performance for the year. Key highlights include achieving the best clinical outcomes in the company's history, generating the highest cash flows ever of $361 million from operations, and growing non-acquired treatment volumes by 6% for the quarter and 5% for the full year through opening new dialysis centers. The report also discusses DaVita's plans to acquire Gambro Healthcare to expand its market position and services offered.
The 2004 annual report summarizes DaVita's strong financial and operating performance for the year. Key highlights include achieving the best clinical outcomes in the company's history, generating the highest cash flows ever of $361 million from operations, and growing non-acquired treatment volumes by 6% for the quarter and 5% for the full year through opening new dialysis centers. The report also discusses DaVita's plans to acquire Gambro Healthcare to expand its national dialysis clinic network and patient base.
This document outlines the code of honor and standards of conduct for Owens & Minor, a supply chain management company. It establishes their mission, vision, and values which center around integrity, ethics, customer service, community support, and shareholder value. The code of honor applies to all employees and directors and is designed to ensure compliance with laws and the highest ethical standards. It addresses topics like diversity, harassment, conflicts of interest, gifts, and financial reporting. Employees are responsible for understanding and upholding the code, and can report any suspected violations without fear of retaliation. Violating the code can result in disciplinary action up to termination.
This document outlines the code of honor and standards of conduct for Owens & Minor, a supply chain management company. It establishes their mission, vision, and values, which center around integrity, ethics, customer service, community support, and shareholder value. The code of honor applies to all employees and directors and is designed to ensure compliance with laws and the highest ethical standards. It addresses topics like diversity, harassment, conflicts of interest, gifts, and financial reporting. Employees are responsible for understanding and upholding the code, and can report any suspected violations without retaliation through multiple confidential channels. Violations will be investigated and disciplined accordingly.
This document outlines the Corporate Governance Guidelines of Owens & Minor, Inc. It discusses the board composition and structure, including director qualifications and independence standards. It also covers director responsibilities, such as basic responsibilities and separation of chairman and CEO roles. Additionally, it addresses board committees, director access to officers, director compensation, and the annual performance evaluation process.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter details the Committee's responsibilities related to financial statements, the independent auditor, internal auditing, legal/ethical compliance, and receiving/investigating complaints.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter provides that the Audit Committee will meet regularly with management and the independent auditor to review the company's financial reporting, accounting policies, internal controls, legal/regulatory compliance, and auditing matters.
The document outlines the charter for the Governance & Nominating Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors appointed annually by the board. The committee is responsible for identifying and nominating qualified board candidates and committee members and overseeing corporate governance policies. It is also tasked with annually evaluating board performance and CEO performance, succession planning, and reviewing its own charter. The charter provides the framework for the committee's composition, objectives, authority, responsibilities, and procedures.
The document outlines the charter for the Governance & Nominating Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors appointed annually by the board. The committee is responsible for identifying and nominating qualified board candidates and committee members and overseeing corporate governance policies. It is also tasked with annually evaluating board performance and CEO performance, succession planning, and reviewing its own charter. The charter provides the framework for the committee's composition, objectives, authority, responsibilities, and procedures.
The document outlines the charter for the Compensation & Benefits Committee of Owens & Minor, Inc. It establishes that the committee will be comprised of at least 3 independent directors who are responsible for overseeing compensation plans and policies for the company's officers. The committee's primary objectives are to independently review and approve officer compensation. Key duties include annually evaluating the CEO's performance and compensation, administering compensation plans, and preparing required disclosures regarding executive pay.
Owens & Minor reported financial results for the 1st quarter of 2007. Revenue grew 33.6% to $1.7 billion including $282.5 million from the recently acquired McKesson business. Diluted earnings per share were $0.27, impacted by $0.12 per share dilution from the McKesson transition. The outlook for 2007 remains unchanged with revenue growth of 15-20% and diluted EPS between $1.85-$1.95, with stronger revenue growth expected in the first three quarters due to the timing of the McKesson acquisition.
Owens & Minor reported its 3rd quarter 2007 financial results, with revenue increasing slightly from the previous quarter to $1.687 billion. Gross margins remained steady at 10.6% of revenues. Selling, general and administrative expenses decreased to 7.8% of revenues. As a result, operating earnings improved to 2.4% of revenues, up from 1.5% in the previous quarter. Diluted earnings per share increased to $0.52 from $0.36 in the prior quarter.
This document summarizes Owens & Minor's 2007 Investor Day presentation. The presentation discussed Owens & Minor's value proposition to customers, which includes a nationwide distribution footprint, experienced workforce, long-standing customer relationships, and 125 years of expertise in healthcare supply chain management. It also outlined opportunities to expand relationships through supply chain management services, using technology and data to improve visibility and reduce costs, and providing expertise in areas like inventory management, logistics, and clinical support services. The presentation noted the large market opportunity in the healthcare supply chain sector and Owens & Minor's goal of being a strategic partner to customers.
The Johns Hopkins Health System consists of several hospitals and provides over 3 million meals and services to over 82,000 patients annually. It aims to achieve "best in class" status through consolidating procurement, building an efficient receiving facility, redesigning distribution facilities, implementing supply chain metrics, and partnering with suppliers. Challenges include standardizing processes while supporting small businesses and ensuring adequate staffing and training.
The document outlines Owens & Minor's 2007 Investor Day presentation which discusses the company's strategic direction and financial outlook. It provides an overview of Owens & Minor's market position as a leading distributor of medical supplies, its focus on customer service excellence and partnerships with suppliers. The presentation also reviews the company's financial performance, goals to expand into new product lines and markets, and outlook for continued revenue growth and margin improvement in 2008.
Owens & Minor reported their 4th quarter 2007 financial results, with revenue increasing 7% year-over-year to $1.748 billion, gross margin remaining steady at 10.6% of revenue, and earnings per share growing 20% to $0.55. For 2008, the company expects revenue to increase 5-7% outpacing industry growth, earnings per share to rise 23-28% to $2.20-$2.30, and capital expenditures to be $25-35 million.
The document summarizes Owens & Minor's 1Q 2008 financial results conference call. It begins with safe harbor statements noting risks and uncertainties that could impact projected results. Key highlights include revenue of $1.748 billion for 1Q 2008, gross margin of 10.67% of revenues, SG&A expenses of 8.47% of revenues, and operating earnings of 2.46% of revenues. CEO Craig Smith reaffirmed 2008 annual revenue growth guidance of 5-7% and earnings per share guidance of $2.20 to $2.30, representing 23-28% earnings growth.
Owens & Minor expects revenue growth of 5-7% in 2008, which would translate to earnings per share increasing 23-28% to a range of $2.20 to $2.30. The company expects gross margins to remain consistent compared to the second half of 2007 and SG&A expenses to have a mid-single digit basis point improvement. Capital expenditures are targeted between $25-35 million and excess capital will be used for acquisitions or reducing revolving debt.
Owens & Minor reported financial results for the second quarter of 2008. Revenue increased 2.3% from the second quarter of 2007 to $1.795 billion. Gross margin as a percentage of revenue was 10.67%, up slightly from the prior year. Selling, general and administrative expenses decreased as a percentage of revenue. Earnings per diluted share increased 22% to $0.59 compared to the second quarter of 2007. For 2008, the company expects revenue growth between 5-7% and earnings per diluted share between $2.30-$2.40, up from previous guidance.
Owens & Minor reported financial results for 3Q 2008 with year-over-year revenue growth but lower earnings per share. Revenue increased 2.4% to $1.81 billion compared to $1.75 billion in 3Q 2007. Gross margin and operating earnings as a percentage of revenue declined slightly. Earnings per share fell from $0.52 to $0.55. For 2008, the company expects organic revenue growth of 5-7% and earnings per share between $2.30-$2.40, despite expected dilution from an acquisition.
The document discusses Owens & Minor's 1999 annual report. Some key details:
- Sales increased 3.4% for the year and 20.1% in the fourth quarter. Net income increased 38.9% for the year.
- The company restored its sales volume after losing some business in 1998 and maintained profitability on new business.
- For 2000, the company expects to grow revenues 8-10% while maintaining gross margin and lowering expenses to improve earnings by 13-15% or more.
- Owens & Minor focuses on operational excellence, converting information to profits through technology solutions, and following patient care trends.
Owens & Minor is the leading distributor of medical and surgical supplies in the US. In 2001, the company grew sales by 9% while maintaining a gross margin of 10.7% and improving earnings per share to $1.03 excluding unusual items. The company strengthened its balance sheet by refinancing debt and increased business with group purchasing organization customers using its CostTrack pricing model. Owens & Minor focuses on service, partnerships, consistency and using technology like WISDOM to meet customer needs, positioning it for continued leadership in the evolving healthcare supply chain.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
1. Owens&Minor, Inc.
125
One Hundred Twenty-five Years of Service to the Healthcare Industry
Annual Report
and Form 10-k
2. Company Overview 2006
Founded in Richmond in 1882, Owens &
roudly celebrating its 125th anniversary,
P Minor continues to rely on its essential mission,
Owens & Minor, Inc., a FORTUNE 500
vision and values to support an enduring culture
company headquartered in Richmond,
that focuses on customer service excellence,
Virginia, is the leading distributor of medical and sur-
teammate well-being, shareholder value, business
gical supplies to the acute-care market, a sought-after
integrity and social responsibility. Despite the daily
healthcare supply-chain management company, and a
demands of business, the company contributes
national direct-to-consumer supplier of diabetes
time, energy and talent to the communities it
testing supplies.Thanks to strong organic growth and
serves by encouraging a culture of volunteerism
a strategic acquisition late in the year, revenues for
and charitable giving among its teammates.
Owens & Minor topped $5.5 billion in 2006,
Throughout its 125-year history of serving cus-
solidifying the company’s market leading position.
tomers, Owens & Minor has always dedicated itself
Using its nationwide network of efficiently run
to delivering long-term value to shareholders.With
distribution centers, the company serves hospitals,
strong operating performance and a consistent divi-
integrated healthcare systems, alternate-care facilities,
dend policy, the company has produced a 13% total
the federal government and individuals by providing
return over the last five years for its shareholders.
a diverse medical and surgical product and service
Today, Owens & Minor common shares are
offering. Owens & Minor leverages its operational
traded on the New York Stock Exchange under
efficiency, technology innovation and advanced
the symbol OMI. As of December 31, 2006, there
supply-chain management services, enabling health-
were approximately 40, 257,000 common shares
care providers to improve efficiency and lower costs
outstanding. For more information, visit the com-
across the entire medical supply chain.
pany’s Web site at www.owens-minor.com.
Contents
Financial Highlights . . . . . . . . . . . . . . . . 1
Letter to Shareholders . . . . . . . . . . . . . . . 2
Culture . . . . . . . . . . . . . . . . . . . . . . . . . 6
People . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Growth . . . . . . . . . . . . . . . . . . . . . . . . 10
Innovation . . . . . . . . . . . . . . . . . . . . . . 12
Board of Directors . . . . . . . . . . . . . . . . 14
Corporate Officers . . . . . . . . . . . . . . . . 15
Corporate Information . . . . . . . . . . . . . 16
Form 10-K . . . . . . . . . . . . . . . . . . . . . . 17
Mission Statement . . . . . Inside Back Cover
Annual Report 2006
3. Financial Highlights
(in thousands, except ratios and per share data)
Percent Change
Year ended December 31, 2006 2005 2004 06/05 05/04
(1)
Revenue $5,533,736 $4,822,414 $4,525,105 14.8% 6.6%
As reported:
Net income(2)(3) $ 48,752 $ 64,420 $ 60,500 (24.3%) 6.5%
(2)(3)
Net income per common share - basic $ 1.22 $ 1.63 $ 1.55 (25.2%) 5.2%
(2)(3)
Net income per common share - diluted $ 1.20 $ 1.61 $ 1.53 (25.5%) 5.2%
Cash dividends per common share $ 0.60 $ 0.52 $ 0.44 15.4% 18.2%
Book value per common share at year-end $ 13.60 $ 12.84 $ 11.65 5.9% 10.2%
Stock price per common share at year-end $ 31.27 $ 27.53 $ 28.17 13.6% (2.3%)
Shares of common stock outstanding 40,257 39,890 39,519 0.9% 0.9%
Gross margin as a percent of revenue 10.8% 10.7% 10.2%
Operating earnings as a percent of revenue (2)
1.9% 2.4% 2.4%
Long term debt $ 433,133 $ 204,418 $ 207,476 111.9% (1.5%)
Average inventory turnover 8.9 9.8 9.9
Days sales outstanding 30.5 26.3 26.5
Operating cash flow $ (73,580) $ 135,374 $ 58,654
(1) In 2006, revenue included $282 million, resulting from the acquired acute-care medical and surgical supply business of McKesson Medical-Surgical Inc.,
a business unit of McKesson Corporation (McKesson acquisition).
(2) In 2006, net income included $9.3 million, or $5.7 million net of tax, of charges related to the increase in the allowance for doubtful accounts receivable in
the direct-to-consumer distribution business. Also, in 2006, net income included $2.6 million, or $1.6 million net of tax, of expenses related to the expensing
of stock options in accordance with Statement of Financial Accounting Standards No. 123(R), Share-Based Payment, and $16.0 million, or $9.7 million
net of tax, of dilution resulting from the McKesson acquisition. In 2005 and 2004, net income included software impairment charges of $3.5 million and
$1.0 million, or $2.1 million and $0.6 million net of tax.
(3) In 2006, net income included an $11.4 million loss on the early extinguishment of debt, or $7.0 million net of tax.
REVENUE DILUTED EPS DIVIDENDS
NET INCOME
(Dollars in billions) (Dollars per share) (Dollars per share)
(Dollars in millions)
$64.4
$1.61
$60.5
$5.5
$1.53
$4.8 $0.60
$4.5 $48.8
$0.52
$1.20
$0.44
’04 ’05 ’06 ’04 ’05 ’06 ’04 ’05 ’06
’04 ’05 ’06
1
Annual Report 2006
4. Letter to Shareholders
Craig R. Smith
President &
Chief Executive Officer
Dear
Shareholders,
Teammates,
and Friends:
nother year has
A passed for Owens
& Minor, and as
we open the door to 2007,
we proudly begin the
celebration of our 125th
anniversary.We have come
a long way from supplying
the 19th-century citizens of
Richmond,Virginia, with
tonics and elixirs.Today
we are the market leader
in serving the needs of
the nation’s hospitals with
unmatched distribution
services, advanced supply-
chain management tech-
niques, clinical inventory
management, technology
innovation, and outsourcing
and consulting services.
5. “I am very proud that Owens & Minor has made its
125-year journey without sacrificing
what is most important — our culture.”
Back in 1882, Owens & Minor served
In today’s fast-paced economy, it is a real milestone to reach a 125th
the healthcare industry from a storefront
anniversary with essentially the same company name and the enduring in downtown Richmond,Virginia.
leadership of the founding family — in our case, the Minor family. But
we have done more than just survive, we have thrived. Owens & Minor
is now the leading distributor of medical and surgical supplies to the
nation’s acute-care market.We have been recognized in recent years for
our technology leadership and for our ethical business practices.
Over the years, we have worked every day to fulfill an important
element of our mission, vision and values — delivering long-term value
to our shareholders. Some years may be more difficult than others, but
we know that our performance over the long term has benefited our
investors.The year 2006 was no exception.Though we faced some
obstacles along the way, it was a good year for our shareholders.With a
closing price on December 29, 2006, of $31.27, we saw a 14% improve- The Owens & Minor company baseball
team of 1907 was a great example of
ment in our share price over the previous year. Our total return for the
early teamwork.
year was 16%, while our five-year total return was 13%.
Looking back at 2006, we saw significant activity in just about every
area of our company.We moved into a new Home Office.We refinanced
$200 million in bonds at a more favorable rate.We renewed agreements
with two of our important GPO partners.We renegotiated our out-
sourcing arrangement with Perot Systems Corporation.We weathered
some storms in our direct-to-consumer business. Organic revenue
growth was the strongest we have reported in at least ten years, and late
in the year we acquired the acute-care business of McKesson Medical-
Surgical Inc. All of this activity sets the stage for us in 2007 and 2008 to
focus on serving our customers, improving our processes, creating better Using a fleet of leased trucks,
services and growing our company. Our teammates, new and veteran Owens & Minor serves hospitals
around the nation.
alike, are focused on delivering the difference for our customers.
We began the year by moving to our new Home Office facility, which
finally allows our team to work under one roof. Designed with suggestions
from our teammates, the building gives us all a comfortable, collaborative
work environment that facilitates our culture of teamwork.The new
3
Annual Report 2006
6. building also houses a real campus for Owens & Minor University, or
OMU. This in-house training facility now has sufficient classrooms and
meeting space for large and small groups of students.We are very pleased
Running an efficient warehousing
system is as important today, as it was that OMU is now extending its course offerings to our customers,
several generations ago.
providing classes in supply-chain management.
We refinanced $200 million in bonds at a more favorable rate in
April 2006, lowering the borrowing rate from 8.5% to 6.35%. For this
bond issue, we were given investment grade ratings from Fitch Ratings
and from Standard & Poor’s consistent with our existing corporate
credit rating.
We renewed agreements with two of our important GPO partners,
Novation and Broadlane, and completed the associated customer
sign-ups during the year.Along with a new Premier contract signed late
in 2005, we now have agreements in place for approximately 70% of
our business.
Owens & Minor embarked on a period
of rapid growth after the acquisition of
By extending our agreement with Perot Systems Corporation in
the Bodeker Drug Company in 1955.
2006, we cemented our information technology (IT) outsourcing
relationship until 2014 and committed to an important mainframe migra-
tion project that will improve our flexibility and capacity for growth. Perot
Systems also played a crucial role in the fourth quarter, as we began the
conversion of the acquired McKesson business, by helping us link our
systems to those of our new customers.
Unfortunately, we experienced some stormy weather with our
direct-to-consumer business, following a period of rapid growth.After
adding teammates with expertise in day-to-day operations and accounts
receivable portfolio management, we discovered the need to increase
our allowance for doubtful accounts receivable for this effort.Although
Once a drug wholesaler, Owens & Minor
we were disappointed with third and fourth quarter results, we are now
now concentrates on the distribution of
focused on daily blocking and tackling, which allows us to efficiently run
medical and surgical supplies.
the business.We have become the third largest player in the direct-to-
consumer mail-order diabetes supply sector in less than two years.
We are extremely excited about the acquisition of the McKesson
acute-care business.We anticipate that it will add in excess of $900 million
in new business.At this writing, we are on schedule with our aggressive,
six-month conversion plan, under which we are paying McKesson to
serve our new customers until they are transitioned to Owens & Minor.
With this important acquisition, Owens & Minor is now the leading
provider of medical and surgical supply distribution to the acute-care
sector. This added scale and volume will allow us to operate even more
Owens & Minor began trading on the
NYSE under the symbol OMI in1988.
4 Annual Report 2006
7. efficiently and effectively once the conversion is completed.With the
McKesson acquisition and the re-signing of much of our business, we are
well positioned to work with our hospital customers and suppliers to improve
the cost and efficiency of the healthcare supply chain. In turn, executives of
large healthcare systems know that by working with Owens & Minor, they
have the opportunity to collaborate with a trusted partner to reach their By upgrading our distribution centers
supply-chain goals. and deploying technology throughout,
we have developed a highly efficient
I am very proud that Owens & Minor has made its 125-year
warehousing system.
journey without sacrificing what is most important — our culture.We
were founded on the principles of business integrity, exceptional customer
service, and caring for our teammates and our communities. Even today,
in our fast-paced digital world, we take time to care for our customers
and celebrate our teammates and their successes.We have been very fortu-
nate over the years — through good times and bad, through highs
and lows — to effectively manage our company with the highest ethics
and integrity, and to provide real value for our shareholders.This continues
to be our culture and way of life here at Owens & Minor.We manage
our business for the long term and intend to do so for another 125 years. Owens & Minor believes in supporting
the communities it serves and
Happy Anniversary, Owens & Minor!
encourages teammates to volunteer
with a variety of organizations.
Sincerely,
Craig R. Smith
President & CEO
Owens & Minor
In 2006, we acquired the acute-care
business of McKesson Medical-Surgical Inc.
Owens & Minor moved into its new
Home Office in 2006.
5
Annual Report 2006
8. 125
The Owens & Minor
Culture
At Owens & Minor, we have long prided ourselves on the kind of culture that
earns 97% customer satisfaction ratings and teammates that stay with our
company for many years. Now and into the future, we are determined to thrive.
W
hen, 125 years ago, a country’s leading medical and
Richmond whole surgical supply distributor in the
sale drug company acute-care sector.Also in 2006,
opened its doors on East the company moved into a
Main Street for the very first new 160,000 square foot
time, a company — as well as Home Office on 25 acres.
a culture — was born.Today, The move represents a
the founding principles of continued investment in the
Owens & Minor remain well-being of our Home Office
unchanged. Founders Otho O. teammates, who can now work
Owens and George Gilmer Minor together under one roof, as well as
Otho O. Owens and George Gilmer Minor, once
competitors, joined together in 1882 to create the
conducted their business with our teammates around the country
Owens & Minor Drug Company.
honesty and integrity, and made who visit the Home Office for
teammate well-being a top priority, training and meetings.
changes, but our cultural compass
creating a true team culture. At Owens & Minor, we pride
has been our steady guide. For
Serving customers respectfully ourselves on a business culture that
more than 12 decades, we have
and efficiently — and earning their earns 97% customer satisfaction
remained vital by continually
trust — is another principle that ratings and inspires teammate loyalty.
reinventing ourselves.
has stood the test of time at Owens Now and into the future, we are
& Minor. Having a strong sense of determined to thrive.We will con-
A New Chapter
social responsibility, volunteering tinue to stand by our customers as
Building upon our rich past, 2006
and giving back to the communi- we move with the changing times,
marked yet another historic year.
ties we serve, are also important never losing sight of what got us
With the acquisition of the acute-
traditions.Through the years, our here to begin with: a fierce dedica-
care distribution business of
customers, as well as our markets, tion to integrity, a commitment to
McKesson Medical-Surgical Inc.,
products and business strategies, delivering value, and unflinching
Owens & Minor now stands as the
have gone through remarkable support from our teammates.
6 Annual Report 2006
9.
10. The People of
Owens & Minor
Last year gave Owens & Minor teammates the opportunity to showcase their
dedication and strong work ethic like never before. With the McKesson
acquisition, an energized workforce is now managing more business per person
than at any other time in our history.
T
hroughout our history, Making a New Era Possible
Owens & Minor has relied
In 2006, Owens & Minor team-
on inspired and trusted
mates showcased their strong work
leadership. Early visionaries, like
ethic like never before.With the
stock-boy-turned-company presi-
McKesson acquisition, an ener-
dent Conway M. Knox, and gener-
gized workforce is now managing
ations of Minor family members,
more business per person than at
like G. Gilmer Minor, Jr., president
any other time in our history.
from 1947-1976, helped build the
Throughout this transition
company into a national power-
process, which included training
house. His son, our current
new teammates to help accommo-
Chairman, G. Gilmer Minor, III, In distribution, efficiency counts. Owens & Minor has
date the new business, we contin-
always made the most of available warehouse space and
offered strong, steady leadership for
teammate time and talent to turn inventory quickly. ued to strive for strong service
nearly two decades. But it is our
levels and highly satisfied cus-
thousands of teammates, past and
tomers, both new and old.
present, whether working the front- capabilities. Subsequently in 1998,
Our company training facility,
lines in our distribution centers or the cancellation of a major cus-
Owens & Minor University, or
selling our technology programs tomer contract resulted in a
OMU, has grown from a modest
and services, who are the true substantial revenue loss, which
start to a program offering a full
reason for our success. Owens & Minor essentially
slate of skill-building courses to
Owens & Minor has faced some replaced within a year by signing
teammates and customers alike. At
challenges through the years. For new customer agreements.
Owens & Minor, we remain dedi-
example, in 1992 the company Despite these hurdles, we have
cated to ensuring the satisfaction
made a bold decision to sell its drug held fast to our beliefs, teaching
of our teammates.We know that
division — the bedrock of the busi- generations of teammates how to
the support we show our team-
ness for 110 years.Two years later provide the best possible service.
mates leads to the delivery of
in 1994, the company acquired Customers have rewarded our
exceptional customer service, and
Stuart Medical, Inc., greatly en- dedication to service with decades
hancing our national distribution that means a thriving business.
of loyalty.
8 Annual Report 2006
12. Owens & Minor
and Growth
Today, Owens & Minor continues to rely on our financial strength, a strong
core business, and a strategic focus on the future of healthcare.
F
or 125 years at Owens & Owens & Minor, and continues our
Minor, we have continually long tradition of bringing in like-
applied the essential business minded companies to help us grow.
values of responsible financial stew- Also in 2006, we renewed our
ardship, careful investment of our agreements with important group
resources, and strategically-focused purchasing organization (GPO)
growth.Throughout our journey partners, Novation and Broadlane.
from a storefront drug wholesaler Combined with the U.S. Depart-
to the largest medical and surgical ment of Defense and Premier Inc.
supply distributor in the acute-care contracts signed in the second half
Even today, our drivers are important customer service
sector, growth has defined our of 2005, we have signed a healthy
representatives for the company, as they interact with
company in many ways. percentage of our business for the
our customers every day.
Our history is rich with near term.
turns high. Because of our res-pon-
milestones.With our first major With an eye to the future, we
sible financial stewardship, we took
acquisition, the Bodeker Drug are also reaching out to the increas-
advantage of favorable market
Company, we established a tradi- ing number of individual customers
conditions in 2006 and refinanced
tion of thoughtful building. A who are consuming medical sup-
$200 million in bonds, lowering our
period of acquisition soon fol- plies in their homes. In two years,
interest rate from 8.5% to 6.35%.
lowed; from 1964 to 1981 we since the 2005 acquisition of
Today, with 2006 revenues of $5.5
acquired ten companies. By 1970, Access Diabetic Supply, LLC, we
billion, Owens & Minor stands
we had made our debut in the have nearly tripled the size of our
more ready than ever to respond
medical and surgical supply direct-to-consumer supplier of
and grow in changing times.
distribution business, and in 1978 diabetes testing supplies. Our busi-
our revenues topped $100 million. ness is now the third largest mail-
Setting the Stage for
With the 1992 sale of our drug order supplier of diabetes supplies,
the Next 125 Years
division, medical and surgical primarily blood glucose monitors
supply distribution rose to become and test strips, directly to con-
While our unwavering focus on
the core business line. Despite sumers in the home.
our core business values and
some setbacks, we have expanded In addition, we are providing
practices has enabled us to reach
and prospered. more clinical asset-management
our 125th anniversary, the 2006
Owens & Minor’s asset manage- programs to our customers.We are
McKesson acquisition is also an
ment strategies have continued to leveraging our advanced technolo-
important new chapter in our
generate a healthy operating cash gy infrastructure, discipline and
growth story.With new customers
flow and overall financial strength. experience to offer our hospital
around the nation, as well as new
We work daily to maintain a very customers ways to monitor and
teammates, that business now
low days sales outstanding (DSO) – control costly and sophisticated
represents in excess of $900 million
the best performance in our market clinical inventory, saving them
in new revenue.This acquisition
sector — and to keep our inventory valuable time and resources.
is a catalyst for the future of
10 Annual Report 2006
13.
14. Owens & Minor
and Innovation
For years, Owens & Minor has been recognized as the industry leader for our
innovative use of technology, and we have taken great strides to improve our
service capabilities to our customers.
A
t Owens & Minor, tools to help lower overall costs
intelligent use of the most in the supply chain and reduce
advanced technology inefficiencies by avoiding product
available drives our success. In fact, expirations and waste.We also offer
we were early adopters of comput- our customers value through a
er technology. For decades, we’ve private-label line of products called
offered customers and suppliers MediChoice®.
innovations that create cost-effec- In 2006, we consolidated our
tive, streamlined supply-chain solu- hospital asset-management technol-
Teamwork, technology and customer service excellence
have enabled us to meet the needs of our customers.
tions.The advanced technologies ogy onto an integrated Web-based
we use create incredible efficiencies platform, which enables our
addition, operating rooms across
without a corresponding need for customers to efficiently track and
the nation have derived savings
an increase in manpower. replenish inventories, across a broad
and critical management capabilities
Our innovations win industry range of medical and surgical
with our QSightTM, SurgiTrack® and
accolades but, more importantly, supplies. Our healthcare customers
PANDAC® tools.
they improve our service capabili- can now access all of our clinical
Developing Tools for
ties to our customers. In 2002, we asset management tools through
the Next Generation
expanded our offerings to cus- this new, consolidated platform.
tomers with supply-chain consult- At Owens & Minor, we recog-
of Customers
ing and outsourcing through nize that the healthcare sector will
Healthcare costs are rising faster
OMSolutionsSM.We also enlisted continue to evolve and grow in its
than the rate of inflation, and
Perot Systems as our IT outsourc- complexity. In response, we will
hospital executives are looking
ing partner in 1998, creating con- continue to provide the most inno-
for ways to control overall supply-
siderable internal efficiencies. Our vative supply-chain management
chain costs. At Owens & Minor,
earliest supply-chain management tools. Now and into the future, we
one strategy is to apply our existing
programs, CostTrackSM and will leverage our leading position
technology to other areas of
WISDOMSM, continue to bring in the acute-care market to serve
medical distribution and inventory
enormous benefit as premier our customers, create shareholder
management, such as catheteriza-
activity-based management and value and invest in our most valued
tion and radiology labs. Increasingly,
web-based support systems. In asset — our teammates.
customers can use our innovative
12 Annual Report 2006
16. Front Row, seated, left to right: Richard E. Fogg, James B.Farinholt, Jr., James E. Rogers, G. Gilmer Minor, III,Anne Marie Whittemore,A.Marshall Acuff, Jr.
Back Row, left to right: Eddie N. Moore, Jr., Peter S. Redding, Craig R. Smith, James E. Ukrop, John T. Crotty, J. Alfred Broaddus, Jr.
Board of Directors
John T. Crotty (69) 2,4*
J. Alfred Broaddus, Jr. (67) 3,5
G. Gilmer Minor, III (66) 1* A. Marshall Acuff, Jr. (67) 1,3,5*
Managing Partner,
Retired President,
Chairman & Retired CEO, Retired Senior Vice President
CroBern Management Partnership
Federal Reserve Bank
Owens & Minor, Inc. & Managing Director,
President, CroBern, Inc.
of Richmond
Salomon Smith Barney, Inc.
Peter S. Redding (68) 2,4
James B. Farinholt, Jr. (72)2,4 Richard E. Fogg (66) 1,2*,4 Eddie N. Moore, Jr. (59) 2,5
Retired President & CEO,
Managing Director, Retired Partner, President,
Standard Register Company
Tall Oaks Capital Partners, LLC PricewaterhouseCoopers LLP Virginia State University
Anne Marie Whittemore (60) 1, 3*,5
James E. Rogers (61) 1 Craig R. Smith (55) 1,4 James E. Ukrop (69) 3,5
Partner, McGuireWoods LLP
Lead Director, President & CEO, Chairman,
Owens & Minor, Inc. Owens & Minor, Inc. Ukrop’s Super Markets, Inc.
President, SCI Investors Inc. Chairman, First Market Bank
Board Committees:
1Executive Committee, 2Audit Committee, 3 Compensation & Benefits Committee,
4 Strategic Planning Committee, 5 Governance & Nominating Committee,
*Denotes Chairman
14 Annual Report 2006
17. Corporate Officers
Craig R. Smith (55) Richard F. Bozard (59)
President & Chief Executive Officer Vice President,Treasurer
President since 1999 and Chief Executive Officer Vice President,Treasurer since 1991.
since July 2005. Mr. Smith has been with the Mr. Bozard has been with the company since 1988.
company since 1989.
Olwen B. Cape (57)
Charles C. Colpo (49) Vice President, Controller
Senior Vice President, Operations Vice President, Controller since 1997.
Senior Vice President, Operations since 1999 and Ms. Cape has been with the company since 1997.
Senior Vice President, Operations & Technology from
April 2005 to July 2006. Mr. Colpo has been with the Hugh F. Gouldthorpe, Jr. (68)
company since 1981. Vice President, Quality & Communications
Vice President, Quality & Communications since 1993.
Erika T. Davis (43) Mr. Gouldthorpe has been with the company since 1986.
Senior Vice President, Human Resources
Senior Vice President, Human Resources since 2001. Scott W. Perkins (50)
From 1999 to 2001, Ms. Davis was Vice President Group Vice President, Sales & Distribution
of Human Resources. Ms. Davis has been with the Group Vice President, Sales & Distribution – West, since
company since 1993. October 2005. Previously, Mr. Perkins served as Senior
Vice President, Sales & Distribution from January to
Grace R. den Hartog (55) October 2005. Prior to that, he served as Regional Vice
Senior Vice President, General Counsel & Corporate Secretary President – West, from March to December 2004, and an
Senior Vice President, General Counsel & Corporate Area Vice President from 2002 to 2004. Mr. Perkins has been
Secretary since 2003. Ms. den Hartog previously served with Owens & Minor since 1989.
as a Partner of McGuire Woods LLP from 1990 to 2003.
W. Marshall Simpson (38)
Jeffrey Kaczka (47) Group Vice President, Sales & Distribution
Senior Vice President, Chief Financial Officer Group Vice President, Sales & Distribution – East, since
Senior Vice President, Chief Financial Officer since 2001. October 2005. Previously, Mr. Simpson served as Regional
Previously, Mr. Kaczka served as Senior Vice President, Vice President from 2004 to October 2005. Prior to
Chief Financial Officer for Allied Worldwide, Inc. from that, Mr. Simpson served as Operating Vice President
1999 to 2001. of Corporate Accounts from 2003 to 2004, and as Operating
Vice President of Business Integration from 2002 to 2003.
Mr. Simpson has been with the company since 1991.
Richard W. Mears (46)
Senior Vice President, Chief Information Officer
Numbers inside parentheses indicate age.
Senior Vice President, Chief Information Officer
since June 2005. Previously, Mr. Mears was an Executive
Director with Perot Systems from 2003 to June 2005, and
an account executive from 1998 to 2003.
Mark A.Van Sumeren (49)
Senior Vice President, Business Development
Senior Vice President, Business Development since July 2006.
Senior Vice President, OMSolutionsSM from 2003 to July
2006. Mr.Van Sumeren previously served as Vice President
for Cap Gemini Ernst & Young from 2000 to 2003.
15
Annual Report 2006
18. Corporate Information
Annual Meeting Information for Investors
The annual meeting of Owens & Minor, Inc.’s shareholders The company files annual, quarterly and current reports,
will be held at 10:00 a.m. on Friday, April 27, 2007, at information statements and other information with the
Owens & Minor, Inc., 9120 Lockwood Boulevard, Securities and Exchange Commission (SEC).The public
Mechanicsville,Virginia, 23116. may read and copy any materials that the company files
with the SEC at the SEC’s Public Reference Room at
Transfer Agent, Registrar 100 F Street, N.E.,Washington, D.C. 20549.The public
and Dividend Disbursing Agent may obtain information on the operation of the Public
The Bank of New York Reference Room by calling the SEC at 1-800-SEC-0330.
Investor Services Department The SEC also maintains an Internet site that contains
P.O. Box 11258 reports, proxy and information statements, and other infor-
Church Street Station mation regarding issuers that file electronically with the
New York, NY 10286-1258 SEC.The address of that site is http://www.sec.gov.The
800-524-4458 address of the company’s Internet Web site is www.owens-
shareowners@bankofny.com minor.com.Through a link to the SEC’s Internet site on
the Investor Relations portion of our Web site we make
BuyDIRECTSM Stock Purchase available all of our filings with the SEC, including our
and Dividend Reinvestment Plan annual report on Form 10-K, quarterly reports on Form
Our transfer agent,The Bank of New York, offers a Direct 10-Q, current reports on Form 8-K and amendments to
Purchase and Sale Plan for shares of Owens & Minor, Inc. those reports, as well as beneficial ownership reports filed
common stock known as the BuyDIRECTSM Plan.The with the SEC by directors, officers and other reporting per-
BuyDIRECTSM Plan provides registered shareholders of sons relating to holdings in Owens & Minor, Inc. securities.
Owens & Minor and interested first-time investors a way This information is available as soon as the filing is accepted
to buy and sell shares of Owens & Minor common stock. by the SEC.
Inquiries should be directed to The Bank of New York
(see contact information above). Corporate Governance
The company’s Bylaws, Corporate Governance Guidelines,
Shareholder Records Code of Honor and the charters of the Audit,
Direct correspondence concerning Owens & Minor, Inc. Compensation & Benefits, and Governance & Nominating
stock holdings or change of address to The Bank of Committees are available on the company’s Internet Web
New York’s Investor Services Department (listed above). site at www.owens-minor.com and are available in print to
Direct correspondence concerning lost or missing dividend any shareholder upon request by writing to:
checks to:
Corporate Secretary
The Bank of New York
Owens & Minor, Inc.
Receive and Deliver Department
9120 Lockwood Boulevard
P.O. Box 11002
Mechanicsville,Virginia 23116
Church Street Station
New York, NY 10286-1002
Communications with
the Board of Directors
Duplicate Mailings
The Board of Directors has approved a process for
When a shareholder owns shares in more than one account
shareholders to send communications to the Board.
or when several shareholders live at the same address, they
Shareholders can send written communications to the
may receive multiple copies of annual reports.To eliminate
Board, any committee of the Board, the Lead Director
multiple mailings, please write to the transfer agent.
or any other individual director at the following address:
P.O. Box 26383, Richmond,Virginia 23260. All communi-
Counsel
cations will be relayed directly to the applicable director(s),
Hunton & Williams
except for communications screened for security purposes.
Richmond,Virginia
Certifications
Independent Auditors
The company’s chief executive officer certified to the
KPMG LLP
New York Stock Exchange (NYSE) within 30 days after
Richmond,Virginia
the company’s 2006 Annual Meeting of Shareholders that
Press Releases he was not aware of any violation by the company of
Owens & Minor, Inc.’s press releases are available NYSE corporate governance listing standards.The company
at www.owens-minor.com. also filed with the SEC as exhibits 31.1, 31.2, 32.1 and 32.2
to its Annual Report on Form 10-K for the year ended
Communications and Investor Relations December 31, 2006, certifications by its chief executive
804-723-7000 officer and chief financial officer.
16 Annual Report 2006
19. Mission
To create consistent value for our customers and supply-chain partners that
will maximize shareholder value and long-term earnings growth; we will do
this by managing our business with integrity and the highest ethical standards,
while acting in a socially responsible manner with particular emphasis on the
well-being of our teammates and the communities we serve.
Vision
To be a world class provider of supply-chain management solutions to the
selected segments of the healthcare industry we serve.
Values
We believe in high integrity as the guiding principle of doing business.
We believe in our teammates and their well-being.
We believe in providing superior customer service.
We believe in supporting the communities we serve.
We believe in delivering long-term value to our shareholders.
Annual Report 2006
20. 125 One Hundred Twenty-five Years of Service
to the Healthcare Industry
Owens & Minor, Inc. • Corporate Office • 804-723-7000 • www.owens-minor.com
Street Address Mailing Address
9120 Lockwood Boulevard Post Office Box 27626
Mechanicsville,Virginia 23116 Richmond,Virginia 23261-7626