TOP 100 / Long Island / Company Profiles (1 - 12)

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Long Island�s Top 100 public companies, ranked by revenue,

are profiled on the following pages. Revenue and profit or loss figures are for

the most recent four quarters reported by the companies as of May 15. The

first employment figure is companywide; the local figure is for Nassau and

Suffolk counties.

ARROW ELECTRONICS INC.

25 Hub Dr., Melville, 11747

516-391-1300

www.arrow.com

Revenue: $8.8 billion

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Loss: $142.7 million

Stock: ARW (NYSE)

Industry: Electronic parts distribution

CEO: Francis Scricco

Employees: 12,500; local, 1,300

Arrow, the world's largest distributor of electronic components and

computer parts and Long Island's biggest company in terms of sales, had one of

its worst years ever. Sales plunged and profit fell as Arrow fought what has

been described as the deepest slump in the history of the U.S. electronics

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industry.

Revenue from components distribution fell, European sales were flat and

worldwide computer sales also declined. Arrow said that if the industry does

not recover soon, it will be difficult for the company to regain profitability.

Nonetheless, Arrow opened a 164,000-square-foot building on Long Island this

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year.

Longer-term, Arrow said it is convinced a turnaround will come, and that

when it does the company will be well-positioned to take advantage of it.

Arrow supplies about 200,000 original equipment manufacturers through more

than 225 sales facilities and 23 distribution centers in 40 countries.

KEYSPAN CORP.

1 MetroTech Center, Brooklyn, 11201,

175 E. Old Country Rd., Hicksville, 11801

516-545-4479/718-403-2000

www.keyspanenergy.com

Revenue: $5.9 billion

Profit: $214.1 million

Stock: KSE (NYSE)

Industry: Natural gas, electricity

CEO: Robert Catell

Employees: 13,000; local, 4,926

An unseasonably warm winter combined with problems at recent acquisitions

have slashed the profit of this large distributor of natural gas and generator

of much of the electricity used on Long Island.

KeySpan lowered its forecast for 2002 profit by 10 cents a share to a range

of $2.60 to $2.85. It sells gas to 2.5 million customers in New York State,

Massachusetts and Connecticut, along with generating electricity that's used by

1.1 million customers of the Long Island Power Authority.

In March, KeySpan agreed to extend for three years LIPA's option to buy the

power plants of the former Long Island Lighting Co. In return, LIPA pledged to

buy energy from KeySpan during the period.

Concern about skyrocketing energy use in Nassau and Suffolk counties has

led KeySpan to propose two pipelines to bring more natural gas to the region.

It also wants to build more generating plants in Glenwood Landing, Port

Jefferson, Melville and elsewhere.

Chief executive Robert Catell said, "We continue to aggressively convert

thousands of heating customers in the Northeast from oil to gas. We have set an

aggressive annual growth gas target of $65 million in new gross profit margin

and are off to an excellent start in achieving this goal."

CABLEVISION SYSTEMS CORP.

1111 Stewart Ave., Bethpage, 11714

516-803-2300

www.cablevision.com

Revenue: $4.4 billion

Loss: $369.8 million

Stock: CVC, RMG (NYSE)

Industry: Cable TV distribution and programming

CEO: James Dolan

Employees: 24,000; local, 6,200

Cablevision, the biggest cable TV service provider in the metropolitan

area, has run into some big problems that have pummeled its stock price.

Its rollout of a new digital service called Interactive Optimum is way

behind schedule. It faces a funding gap of about $500 million in 2003. It lost

thousands of subscribers over its dispute with the Yankees Entertainment and

Sports Network. The Wiz retail electronics chain continues to post big losses.

And the New York Knicks and Rangers, part of the company's Madison Square

Garden unit, both failed to make the playoffs. The company cut about 600

employees and took a $55 million one-time charge.

On the bright side, the company's Optimum Online service has the greatest

penetration of any high-speed Internet service provided by a cable company. And

its Rainbow Media Group programming unit, which is trading as a separate

tracking stock under the symbol RMG, has seen advertising and subscriber

revenue jump for such networks as American Movie Classics and Bravo.

Cablevision has been gearing up to launch a cellular phone service for the

metropolitan area and a satellite TV service, although analysts have urged that

the licenses for those services be sold to help close the funding gap.

COMPUTER ASSOCIATES INTERNATIONAL INC.

One Computer Associates Plaza, Islandia, 11749

631-342-5224

www.ca.com

Revenue: $2.9 billion

Loss: $1.1 billion

Stock: CA (NYSE)

Industry: Computer software

CEO: Sanjay Kumar

Employees: 16,000; local, 2,500

After a bitterly fought proxy battle last summer, Computer Associates

seemed ready to get down to business selling its business software to large

corporations. While losses under generally accepted accounting principles, or

GAAP, continued, the company was able to narrow its operating deficit and end

the year on the high note of having exceeded analysts' expectations using its

pro-forma accounting method.

But that was before it confirmed, in February, that the Securities and

Exchange Commission and the U.S. attorney's office in Brooklyn had launched

twin probes of its accounting. The news had raised concern among Wall Street

analysts and debt-rating agencies, and kept CA's stock price near record-low

levels.

But that hasn't stopped the company from continuing an aggressive business

plan. During its CA World convention this spring, it sharpened its internal

structure to focus on five brand units and reshuffled some top posts. Customers

say the company is considerably more accommodating than in the past. And it is

even hinting at an operating profit before the end of its fiscal year.

Chief executive Sanjay Kumar has expressed hope that once the federal

probes are concluded, the company can get out from under the cloud of continued

questions about its accounting.

HENRY SCHEIN INC.

135 Duryea Rd., Melville, 11747

631-843-5500

www.henryschein.com

Revenue: $2.6 billion

Profit: $93 million

Stock: HSIC (Nasdaq)

Industry: Medical and dental supplies

CEO: Stanley Bergman

Employees: 6,200; local, 900

This medical and dental products provider has managed to maintain good

health in difficult times. The 70-year-old company remains one of Long Island's

most profitable.

Henry Schein has more than 400,000 customers worldwide through its dental,

medical (including veterinary), international and technology divisions. It also

is known for its dental and medical practice management software systems.

The dental division, which accounts for about 40 percent of revenue,

experienced a 10-percent increase in sales last year. Chief executive Stanley

Bergman said the increase was largely due to a more stable sales force and

expanded and strengthened sales consultants and sales management teams, as well

as a new customer incentive program.

"I am particularly pleased with our success in stabilizing and expanding

our dental field sales force," Bergman said.

SYSTEMAX INC.

22 Harbor Park Dr., Port Washington,

11050

516-608-7000

www.systemax.com

Revenue: $1.5 billion

Profit: $900,000

Stock: SYX (NYSE)

Industry: Computer hardware

CEO: Richard Leeds

Employees: 3,778; local, 580

After a difficult year 2000, Systemax appeared to get its ducks back in a

row in 2001. Its ubiquitous TV infomercials now hawk its custom-built PCs 24

hours a day on cable channels. And the company has done some strong marketing

work establishing its brand against powerful rivals Dell and Gateway in the

direct-to-customer PC business.

But the slump in PC sales overall has left few companies unscathed.

Systemax's total revenue declined for 2001 compared with the previous year.

Nevertheless, the company managed to produce a profit of just under $1 million

in 2001 compared with a staggering 2000 loss of $40.8 million. It appears the

cost-cutting measures and a more fiscally prudent approach to its business paid

off for the company and will continue.

"We are focused on the U.S. business model and making it profitable,"

Steven Goldschein, senior vice president and chief financial officer, said

following the company's recently ended first quarter. Taking note of the

continuing slump in tech spending, he added, "We will be adjusting our cost

structure commensurate with sales levels as the year progresses. Reduced

inventory risk and improved cash flows remain crucial in this type of economic

environment."

GENTIVA HEALTH SERVICES INC.

3 Huntington Quadrangle 2S, Melville,

11747

631-501-7000

www.gentiva.com

Revenue: $1.4 billion

Loss: $194.3 million

Stock: GTIV (Nasdaq)

Industry: Home health services

CEO: Ronald A. Malone

Employees: 4,900; local, 200

After two full years as an independent public company, Gentiva is still

undergoing major changes.

The company has a new chief executive, Ronald A. Malone, who recently

succeeded Edward Blechschmidt. Blechschmidt had run the company since it was

split off in March 2000 from the former Olsten Corp. of Melville. Malone had

been president of Gentiva's home health division, the company's largest.

Blechschmidt had said the change in top management made sense after Gentiva

decided earlier this year to concentrate on its home health business by

selling its specialty pharmaceutical business to Accredo Health Inc.

The sale of that business marks a major new direction for Gentiva. The

company becomes "a pure play" home health care business, with 350 licensed home

health agencies across the country.

Gentiva also is expanding its product offerings for the treatment of

pulmonary arterial hypertension.

SYMBOL TECHNOLOGIES INC.

One Symbol Plaza, Holtsville, 11742

631-738-2400

www.symbol.com

Revenue: $1.3 billion

Loss: $80.1 million

Stock: SBL (NYSE)

Industry: Computer hardware

CEO: Jerome Swartz

Employees: 5,250; local, 1,800

After more than 30 quarters of revenue and profit gains, Symbol

Technologies experienced a sharp decline in sales in the first half of 2001.

Weakness in information technology spending has plagued Symbol, as it has other

major technology companies, but the company continued to experience difficulty

shaking off the effects of the downturn.

Early this year, chief executive Tomo Razmilovic resigned suddenly, and the

company set aside $8.5 million as a retirement package. Symbol also

acknowledged that the Securities and Exchange Commission had launched an

investigation into its accounting practices for 2000 and 2001.

While Wall Street analysts don't downplay the seriousness of the

investigation and of the weakness of the overall tech-spending environment,

most remain believers in Symbol's strong engineering base and in the

longer-term demand for its products.

COMVERSE TECHNOLOGY INC.

170 Crossways Park Dr., Woodbury, 11797

516-677-7200

www.cmvt.com

Revenue: $1.3 billion

Profit: $54.6 million

Stock: CMVT (Nasdaq)

Industry: Telecommunications equipment

CEO: Kobi Alexander

Employees: 5,667; local, 250

Comverse's equipment is the platform used to provide voice mail, one-touch

dialing and other services by wireless and wireline companies.

The company's Verint Systems Inc. subsidiary, which contributes 13 percent

of revenue, provides surveillance and security systems to government agencies

and institutions such as banks. Comverse plans to sell part of the stock of

Verint to the public sometime this year. The company also still owns 72 percent

of Ulticom Inc., a software provider, which had its own initial public

offering in April 2000.

About 85 percent of Comverse's customer base comes from telecommunications

network operators, including AT&T Wireless and Telecom Italia.

Last year and this year, Comverse's financial performance and stock price

suffered from a slowdown in telecommunications. Industry analysts estimate that

spending for telecom equipment worldwide may be down 30 percent or more in

2002.

"In general, spending on technology was very soft last year and continues

to be soft this year," said Paul Baker, vice president at Comverse. Those

conditions led Comverse to conduct layoffs and and restructure its operations

in 2001. However, unlike some of the once high-flying telecom companies that

have gone into bankruptcy, Comverse had more than $1.89 billion of cash and

equivalents at the end of its fiscal year.

[CORRECTION: A profile of Comverse Technology Inc. in the Top 100 section on

public companies, published June 10, should have noted that Comverse's Verint

Systems Inc. subsidiary had an initial public offering in mid-May. The

subsidiary, still 80 percent owned by Comverse, trades on Nasdaq under the

symbol VRNT. Verint provides surveillance and security systems to government

agencies and institutions such as banks. pg. A02 NS 6/21/02]

PALL CORP.

2200 Northern Blvd., East Hills, 11548

516-484-5400

www.pall.com

Revenue: $1.2 billion

Profit: $100.3 million

Stock: PLL (NYSE)

Industry: Fluid clarification

CEO: Eric Krasnoff

Employees: 9,000; local, 1,000

"Pall's vision is that one day all fluids will pass through a Pall

product," chief executive Eric Krasnoff said.

Farfetched? Perhaps. But as one of the world's largest suppliers of fluid

clarification and filtration systems, with operations in more than 30

countries, the company may be entitled to its dreams. It also is one of Long

Island's most profitable companies.

Pall's industrial division, which accounts for just over half of sales,

makes fluid purification systems for industries including aerospace, automotive

and pulp and paper. Its life sciences division, which opened a filter

manufacturing facility in Hauppauge in April, produces filters used for

biotechnology, pharmaceuticals and blood banks.

In April the company completed the biggest acquisition in its 56-year

history, of the Filtration and Separations Group, which it acquired from

Paris-based Vivendi Environnement for $360 million. Filtration and Separations

Group makes products for the separation and purification of liquids and gases.

Pall said the deal enabled it to provide a more complete line of products and

services to customers.

GRIFFON CORP.

100 Jericho Quadrangle, Jericho, 11753

516-938-5544

www.griffoncorp.com

Revenue: $1.2 billion

Profit: $11.4 million

Stock: GFF (NYSE)

Industry: Diversified manufacturing

CEO: Harvey Blau

Employees: 6,000; local, 1,200

Griffon isn't a household name on Long Island, but its defense electronics

subsidiary, Telephonics Corp. in Farmingdale, is getting better-known all the

time. Telephonics, a fast-growing part of Griffon, has added millions of

dollars in military and commercial contracts to produce communications

equipment and radar devices for airplanes, Long Island Rail Road cars and

subway trains.

"We've had a very strong fiscal 2002," said Robert Balemian, Griffon's

president. "It's what we consider our most successful year. Each one of the

businesses is contributing" to the bottom line.

Aside from Telephonics, Griffon's subsidiaries include a building products

unit that makes garage doors under the Clopay name and another that makes films

used in products such as disposable diapers. Balemian said the building

products unit is now a $700-million-a-year business, plastic films does about

$300 million in sales and Telephonics about $200 million and growing.

"We are out of space at Telephonics and we're in the midst of deciding on a

course of action," Balemian said, referring to plans on how best to expand.

Telephonics, he said, will look to hire more engineers this year. It accounts

for virtually all of Griffon's Long Island employment.

AUDIOVOX CORP.

150 Marcus Blvd., Hauppauge, 11788

631-231-7750

www.audiovox.com

Revenue: $1.1 billion

Loss: $14.7 million

Stock: VOXX (Nasdaq)

Industry: Electronics equipment

CEO: John J. Shalam

Employees: 1053; local, 520

Audiovox Corp. got its start in 1965 distributing car radios but has since

moved into different markets. About 80 percent of its sales now come from

selling wireless phones and accessories. Its primary customers are domestic and

international wireless carriers such as Verizon Wireless, which in turn sell

the phones to consumers and businesses.

The company's electronics group sells security systems, MP3 players, mobile

video systems and other products to retailers, car dealers and in some cases,

directly to vehicle makers.

The electronics group had its best year in history in 2001, thanks in part

to mobile video sales, which provides products such as TV and VCRs and game

systems for cars and minivans. For 2002, the company plans to launch several

new products, including a DVD rear-seat entertainment system, satellite radio,

a vehicle tracking system and a home-theater system using flat-screen

technology.

But overall sales for the company were down and the company took a net loss

in its 2001 fiscal year, in part due to writedowns of inventory. Company

officials blamed a slower economy, intense pricing competition and diminishing

consumer confidence for a drop in sales and net income in 2001. Sales also were

down in the first quarter of 2002, which was due to software modifications it

is required to make before wireless carriers approve shipments of the next

generation of cellular phones, executives said.

"Our new products, which center on [the new cellular] technology, will help

us restore margins and profits during the latter six months of the year," said

Philip Christopher, president and chief executive of the Audiovox

Communications Corp. subsidiary.

Long Island's Top 100 public companies, ranked by revenue, are profiled on

the following pages. Revenue and profit or loss figures are for the most recent

four quarters reported by the companies as of May 15. The first employment

figure is companywide; the local figure is for Nassau and Suffolk counties.

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