The white powder was discovered just after 11 a.m., and Palm Coast Data issued an evacuation order at 1:39 p.m. The response from St. Johns County’s Hazmat team is ongoing.
palm coast data
Winning back the Saturday Evening Post account’s three magazines helps offset yet another loss for Palm Coast Data as All American Crafts, which published 11 niche magazines, stopped all publishing in August and declared bankruptcy, with $7.5 million in debts.
Revenues from the company’s Media Services businesses, which include Palm Coast Data’s Subscription Fulfillment Services, fell from $20.3 million for the first quarter of 2014 to $17.5 million in the 1st quarter of fiscal year 2015. CEO Rory Burke said the company is “not teetering on the brink of disaster.”
Palm Coast Data now performs subscription fulfillment services for 405 magazine titles representing 90 clients, down from 1,050 magazines and 300 clients when it inked a deal with Palm Coast government in 2008 to stay in the city and pledge to increase the workforce by 700. That increase never took place.
Heinrich Bauer LLC, one Palm Coast Data’s major clients, released some claims on the company in exchange for more than 10 percent of the company’s stock and a pledge to stay with Palm Coast Data through 2018. The alternative would have represented a significant blow to Palm Coast Data, which has already been weakened by successive losses over the years.
In the most sobering annual report to investors to date, Palm Coast Data parent Amrep Corp. raises numerous questions about the long-term viability of its operations as debt, recurring losses and competition burden its prospects–and those of what was once Palm Coast’s largest private employer.
Newsweek, with 1.5 million subscribers, is one of Palm Coast Data’s largest accounts. The company landed it less than two years ago, helping it stanch the loss of other titles. Newsweek will end its print publication in December, a move that will again hurt Palm Coast Data’s bottom line.
Palm Coast Data revenue fell to $13.6 million in the quarter ending July 31, compared to $16.5 million a year ago, and $32 million in 2008. Parent-company Amrep Corp. posted its 12th loss of the last 16 quarters.
Palm Coast Data’s entire revenue for 2012 was less than half its revenue for just two quarters barely four years ago, when it signed a job-incentive deal with Palm Coast government and the state of Florida. The promised jobs have not materialized.
Palm Coast Data’s revenue was down to $15.6 million in the last quarter, less than half the $32.2 million it recorded in the quarter preceding its agreement to consolidate in Palm Coast. The company won’t say how many jobs are on its Palm Coast payroll.