Corporate Report: April 9 - April 15

First Watch franchisee to open locations in Florida, Iowa
Franchisee FW Florida Inc. has agreed to open five new First Watch restaurants in North Central Florida, including in Gainesville, Ocala and The Villages, and has secured development rights in Iowa.

FW Florida Inc.'s president, Joe Cody, with more than 35 years of restaurant industry experience, is a franchise operator for Arby's, Qdoba, Old Chicago Pasta & Pizza, Erbert & Gerbert's and Taco John's. He was also one of the original franchisees for TGI Friday's.

The Bradenton-based First Watch chain currently has 80 restaurants in 11 states. Another 10 locations are expected to open in 2010. By the end of 2012, First Watch expects to have 110 restaurants, with about a dozen franchised locations open and more than 30 in various stages of development.

Area cardiologists join NCH at Briggs Wellness Center
Nine cardiologists from four cardiology groups in Naples have joined the NCH Healthcare System.

Doctors David Axline, Herman Spilker and Carlo Santos-Ocampo of Collier Heart Group; Michael Flynn and James Venable of Naples Cardiovascular Specialists; Adam Frank, Ronald Levine and Tracey Roth of Naples Heart & Vascular Center; and George A. Gamouras, all joined NCH.

Many of the expanded cardiac diagnosis and treatment services will be located on the third floor of the Briggs Wellness Center, which will be built out over the next year and beyond.

The nonprofit NCH Healthcare System includes two hospitals in Naples, with a combined 681 beds and 630 physicians caring for more than 32,000 patients each year, plus outpatient, walk-in wellness, rehabilitation and infusion centers and wound care facilities in Naples, North Naples, Marco Island, Bonita Springs and Estero.

The Bradenton-based law firm of Blalock, Walters, Held & Johnson, P.A. represented the nine physicians.

Vought Defense Systems adds Gen. Hugo to its board
Dunedin-based Vought Defense Systems Corp. has added General Victor J. Hugo Jr. to its board of directors.

Hugo will coordinate the company's efforts with the U.S. Department of Defense and other government agencies, lead its Congressional relations activities related to defense spending, and will represent it with various professional associations.

Before joining Vought, Hugo served in both the Korean and Vietnam wars, plus held several officer positions in the Office of the Chief of Staff of the Army. He served as a military leadership instructor with the Continental Army Command Leadership Board at Fort Bragg. He was also assistant secretary of the Army General Staff, and deputy director of the Army Staff.

Since 1996, Hugo has been an independent consultant in defense and management. His clients include MPRI, Raytheon, and Northrop Grumman.

Vought Defense Systems Corp. is a holding company that owns RedTide Defense Group Inc., a manufacturer of unmanned aerial vehicles.

Technology Research Corp. buys Patco Electronics
Clearwater-based Technology Research Corp. has closed on its acquisition of Patco Electronics Inc. by purchasing all the stock from its shareholders for $5 million in cash, 675,000 shares of TRC common stock and a contingent cash payment if certain revenue targets are met.

Titusville-based Patco Electronics designs and manufactures battery management tools for secondary or rechargeable batteries including for lead acid and lithium ion. Patco Electronics reported revenue of $6 million for all of 2009 and net income of $1.7 million. The acquisition will add to Technology Research's earnings per share in its fiscal year ending March 31, 2011.

Roger Boatman, president of Patco Electronics, will also serve as chief technology officer for TRC. He will report to Owen Farren, Technology Research's chairman, president and CEO.

Technology Research produces electrical safety products that prevent electrocution and electrical fires, and protects against serious injury from electrical shock.

Etc...

Tampa Electric proposal adds renewable technology
Tampa Electric has filed for approval from the Florida Public Service Commission to expand its current lineup of energy-efficiency programs for customers.
In addition to the new proposed programs and enhancements to existing programs, $1.5 million in incentives will be offered by Tampa Electric each year for five years to help customers install renewable technologies such as photovoltaic solar systems and solar water heating.

The company's filing with Public Service Commission also included plan to add new features or enhancements to its existing residential and commercial energy conservation programs, including incentives for business customers that increase the energy efficiency of their lighting, cooling system, duct work and more.

Tampa Electric began its conservation program initiatives in the late 1970s, and through 2009 almost 400,000 customers have participated in Tampa Electric's conservation programs - offsetting the need to generate enough electricity to serve more than 683,500 average-size homes a year.

Tampa Electric Co. is the principal subsidiary of TECO Energy Inc., an energy-related holding company with both electric and gas divisions (Tampa Electric and Peoples Gas System). Other subsidiaries are engaged in coal, and electric generation and distribution in Guatemala.

Chico's FAS issues first-ever quarterly dividend
The board of directors for Fort Myers-based women's specialty retailer Chico's FAS Inc. paid a quarterly cash dividend of four cents per share on its common stock to shareholders of record on March 22.

This was the first quarterly dividend declared and issued since Chico's FAS became a publicly traded company in March 1993.

Kimal Lumber Co. adds drywall, metal studs
Nokomis-based construction materials wholesaler Kimal Lumber Co. now stocks drywall and related accessories, such as paper tape and joint compound. It also has metal studs and related fasteners.

PSCU Financial Services introduces alert messaging
PSCU Financial Services in St. Petersburg is offering BCP Digital Messaging to alert credit unions and their staff members, employees and vendors during natural or man-made emergencies.

The messaging service can direct recipients to an alternative branch or a credit union Web site, plus send other instructional messages.

The cooperative's automated messaging system can make up to 10,000 calls per hour. PSCU Financial Services is the nation's largest credit-union service organization covering more than 1,300 financial institutions nationwide.

State awards AAR Composites money for employee training
AAR Composites, a Clearwater firm that makes composite materials for the aerospace market, will receive $42,000 to train 40 employees via Florida's Incumbent Worker Training program.

AAR produces parts and assemblies for the F-22 advanced tactical fighter, G650 and CJ4, business jets and the S-92 helicopter. Its customers include Bombardier Inc., Sikorsky, Lockheed Martin, The Boeing Co. and Gulfstream Aerospace Corp.

Florida's IWT program provides worker training for maintaining competitiveness in a global economy and for business retention.

Pinellas County Economic Development assisted AAR Composites with the application and review process.