Daily Record Financial News &
Monday, February 5, 2018
Vol. 105, No. 056 • One Section
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Attorney Kelly Mathis talks about his Allied Veterans ordeal and what lawyers need to learn from it.
STARTING OVER
Landstar stock hits record; dividend boosted Fourth-quarter earnings beat forecasts, surpass $1 billion for the first time in any quarter.
Photo by Max Marbut
Attorney Kelly Mathis was found guilty on 103 gamblng-related counts in the Allied Veterans of the World case and spent four days in jail, but the conviction was reversed and the charges dropped.
By Max Marbut Associate Editor
K
elly Mathis survived what’s arguably the worst punishment that can be visited upon a lawyer — suspension from practice as result of a felony conviction – and he’s ready to share his story. He’ll do that Wednesday evening in the Wells Fargo Center auditorium. Mathis will be the keynote speaker for a Jack-
sonville Bar Association continuing legal education program, “Mathis v. State: Protecting the Profession.” “I want people to understand the story, and I don’t want it to happen to anyone else,” Mathis said. The story began more than five years ago when Mathis was retained by Allied Veterans of the World, a St. Augustinebased nonprofit. He represented the charity, purportedly established for the benefit of veterans,
when the state alleged that Allied’s network of internet cafes was nothing more than an illegal gambling enterprise. Mathis prevailed in two court actions on the ground that what Allied was operating was a sweepstakes, and therefore not illegal under state law. On March 15, 2013, authorities raided the internet cafes and arrested 57 people, including Mathis, whom the state accused Kelly Mathis
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Landstar System Inc.’s year-end financial report provided a lot of good news, sending the Jacksonville-based trucking company’s stock to a new high. Fourth-quarter earnings beat analysts’ forecasts, revenue rose above $1 billion for the first time in any quarter and the company predicted first-quarter earnings higher than analysts were expecting. With everything going well, Landstar also increased its quarterly cash dividend. “The operating environ- Gattoni ment experienced in the 2017 fourth quarter exceeded our expectations. The momentum and demand for our service that began in the fourth quarter of 2016 continued to strengthen into 2017,” CEO Jim Gattoni said in Landstar’s conference call with analysts Thursday. “The increased demand, combined with a significant increase in rates that started late in the third quarter, contributed to the very strong fourth-quarter revenue and gross profit,” he said. Revenue rose 17.8 percent in the quarter to $1.05 billion, slightly higher than the average analyst’s forecast of $1.01 billion, according to Yahoo Finance. Adjusted earnings rose by 14 cents to $1.08 a share, beating analysts’ forecasts which ranged from $1 to $1.04. Landstar also said a one-time tax benefit resulting from the new federal income tax law increased final net income to $1.54 a share in the quarter. Gattoni said Landstar is expect-
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The Marbut Report: Judges could get more work time Proposed Florida constitutional amendment would increase retirement age to 75. Public
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