Quick Hits - This Week in Guam Business - August 5, 2011

Written by GBN STAFF

Friday, August 05, 2011

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GUAM – From performance reports of publicly traded corporations to the latest happenings at local upstarts and every size company in between, Guam Buildup News presents a weekly roundup of notable news for the island's business community.

New Private Hospital

dck pacific guam this week stepped into the role of construction risk manager for the Guam Regional Medical City Project, the planned new $250 million hospital across from the Micronesia Mall. GRMC, a concept developed by the non-profit Hospital Development Foundation, is majority owned and operated by Philippines-based hospital network, The Medical City. The hospital will rise on six acres at the intersection of Route 1 and Route 3, not far from the future Marine Corps base. Phase one, pending permit approval, will be a six-story, 260,000-square-foot, 130-bed, state of the art hospital and will break ground late this year. dck won an earlier pre-construction services contract for the project last April.

Container Volumes Rise

At shipping company Horizon Lines, Inc. (NYSE: HRZ), container volume increased 16.4 percent in the second quarter of fiscal year 2011 to 75,208 container loads, up from 64,596 loads for the same period a year ago. The company attributes the growth to its new China service, which launched last December. Excluding China, volume actually decreased by 4.5 percent from a year ago. Second quarter volumes for Alaska and Guam were up compared to last year, but down for Puerto Rico which is troubled by overcapacity and Hawaii where economic recovery has been slow and uneven. Guam volume gains are the result of "service and schedule improvements combined with some growth in construction project business," according to a news release.

Horizon ended the second quarter with a net loss of $7.0 million, or $0.22 per diluted share, on revenue from continuing operations of $307.5 million. In the same period last year, the company gained $4.1 million, or $0.14 per diluted share, on revenue of $291.4 million.

Horizon owns or leases a fleet of 20 U.S.-flag containerships and operates five port terminals linking the continental United States with Alaska, Hawaii, Guam, Micronesia and Puerto Rico.

Familiar Names, New Board

GTA TeleGuam announced its board of directors following a transfer of ownership to Advantage Partners LLP, the largest private equity firm in Japan. Four are returning appointees and four represent the new owner. Peter Gill, founder and owner of KwikSPACE Guam Inc. will serve on the new board, as will Lourdes Leon Guerrero, president, CEO and chairwoman of Bank of Guam, Retired U.S. Navy Admiral Thomas Fargo, chairman of Huntington Ingalls Industries, America's largest military shipbuilder and Dan Moffat who will step down in September as GTA president and CEO. Representing Advantage Partners on the board will be partner and co-founder Richard Folsom, partner Atsushi Akaike, partner and Asia head Emmett Thomas and principal Ichiro Otobe.

"Push-To-Talk" Androids, Plus Facebook for Postpaids

iConnect has introduced the Motorola Titanium, a new "Push-To-Talk" Android-powered smartphone. A new $25 Facebook SMS plan has also arrived on the market, enabling iConnect Buddy postpaid subscribers to link to Facebook on their GSM phones.

Digital TV Spreads Out

GTA TeleGuam has expanded its digital television reach in Barrigada, Dededo and Santa Rita. Barrigada TV watchers from San Vicente to San Roke roads can now subscribe to the company's GUdTV service. In Dededo, the service is now available along Wusstig Road. And In Santa Rita, digital coverage has reached the Hyundai housing area. The company says 40,000 homes and businesses on Guam can now access GUdTV.

New Contractor for Off-Island Medical Care

Guam Medical Referral Service is set to coordinate off-island medical services for Guam patients. In a $2.7 million contract with the Government of Guam, the company will provide medical referral services in Los Angeles, Manila and Honolulu over a one-year contract period, with annual options to renew for up to four additional years. Each year is worth $540,000, where 35 percent is allocated for Honolulu-based services, 35 percent for Los Angeles and 30 percent for Manila.

Ross Sales Up

Ross Stores, Inc. (Nasdaq: ROST) reported an increase in sales of 11 percent to $635 million for the four weeks ending July 30, up from $573 million for the same period last year. Comparable store sales for the month grew 7 percent. Fiscal year 2010 revenues for the California-based company were $7.9 billion. Ross Dress for Less® is the largest off-price apparel and home fashion chain in the United States with 1,013 locations in 27 states and Guam.

For queries regarding this or other stories, email the editor at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Image used in this article courtesy Graur Razvan Ionut / FreeDigitalPhotos.net

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