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Corporate Report: April 12

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  • | 7:41 a.m. April 12, 2013
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Rich Dad Education inks alliance with Alpine Property owner
Cape Coral-based Rich Dad Education has announced a new strategic alliance with Aaron Adams. Adams is the owner of Alpine Property Management LLC and Wholesale Houses LLC real estate businesses, based in Indianapolis. Over the past year, Adams has participated in Rich Dad Education's Elite Training Symposiums, where he promoted his Cash Flow Field Training bus tours of Indianapolis.

Starting this month, Rich Dad Education began offering Aaron's Cash Flow Field Training program at the company's three-day training classes to its existing Elite Training students.

“With the healthy rebound we are seeing in property values all across the country, the timing is perfect for this alliance with Rich Dad Education,” Adams says in a news release.

Roper Industries issuing April dividend
The board of directors of Sarasota-based Roper Industries Inc. has approved a 16.5-cent dividend per share payable on April 26 to stockholders of record on April 12. Roper Industries is a diversified company that provides engineered products and solutions for global niche markets, including water, energy, transportation, medical, education and information networks.

Grow Financial Federal opening 20th credit union
Tampa-based credit union Grow Financial is scheduled to open its 20th branch next month. The new branch, located at 2645 S. Florida Ave., Lakeland in the Southgate Shopping Center will open April 3. Grow Financial also plans to open new branches in Wesley Chapel and South Carolina this year.
Created in 1955, Grow Financial Federal Credit Union is recognized as one of the largest Credit Unions in the nation with $1.8 billion in assets.

GFI Software spins off security operations
Clearwater GFI Software has announced plans to spin off its security technology business unit to create ThreatTrack Security Inc. The new entity will encompass the company's VIPRE family of antivirus products and high-end anti-malware intelligence solutions SandBox and ThreatTrack.

GFI Software says the separation will allow it to increase its focus on its core businesses, IT infrastructure, managed service provider and cloud services for small and medium-sized businesses. ThreatTrack Security will increase its development and marketing efforts in support of its high-end anti-malware solutions for consumers and enterprises.

Julian Waits, who is currently general manager of the security business unit, will become CEO of the new company, which will also continue to be based in Clearwater.

Tech Data Corp. U.K. subsidiary vendor accounting causes financial restatements
Clearwater-based Tech Data Corp. is restating many of its quarterly and annual financial statements for fiscal 2011 and 2012. The technology distribution company says its independent accountants, Ernst & Young LLP, recommended going back and changing the financials to “correct improprieties” stemming from how its U.K. subsidiary reported its vendor numbers.

The company estimates the restatement will reduce consolidated operating income by $30 million to $40 million, and consolidated net income by $25 million to $33 million, over the three fiscal year periods. However it says those estimates could change and it is reevaluating its internal controls for financial reporting.

“We are working diligently to resolve this matter as soon as possible,” Robert Dutkowsky, Tech Data's CEO, says in a press release. “We do not plan to comment further during the course of the investigation unless any material developments arise.”

In response, a number of law firms announced they plan to launch investigations of their own on behalf of shareholders. Those firms include Glancy Binkow & Goldberg LLP of Los Angeles; Lifshitz Law Firm, The Rosen Law Firm and Bronstein, Gewirtz & Grossman LLC of New York City; Finkelstein Thompson LLP of Washington, D.C.; and Block & Leviton LLP of Boston.

Fishman & Associates receives top dealer award
The Nissco Restaurant Dealer Group awarded Dealer of the Year to Venice-based Fishman & Associates Inc. Nissco RDG is a restaurant equipment dealer organization with 130 dealer members throughout the United States. Fishman & Associates is an independent commercial kitchen design and equipment sales company.

Steven Adamczyk becomes partner in Goede, Adamczyk & DeBoest firm
Goede, Adamczyk & DeBoest PLLC in Naples has promoted attorney Steven Adamczyk to a partner in the law firm. Adamczyk has practiced law at Goede, Adamczyk & DeBoest as well as its legacy firm, Goede & Adamczyk since their inception. He oversees the firm's estate planning and probate practice. Adamczyk also focuses in the areas of real estate, corporate and community association law.

Attorneys John Goede, Mark Adamczyk and Richard DeBoest II formed Goede, Adamczyk & DeBoest PLLC in January.

IRISS window series wins product of the year
Bradenton-based industrial infrared (IR) window maker IRISS announced its Platinum Series VPT Infrared Window was honored as the specialty category winner in the 2013 Electrical Construction & Maintenance (EC&M) magazine product of the year competition. This year, a panel of 12 judges, including electrical professionals, reviewed and voted on 160 entries in 47 categories.

The IRISS Platinum Series IR windows are described as the world's only clear polymer IR windows.


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