Owens & Minor
Annual Report 2011

Plain-text annual report

WE KEEP AN EYE ON WHAT’S NEXT, BUT NEVER LOSE SIGHT OF WHAT MATTERS. 2011 ANNUAL REPORT & FORM 10-K By keeping an eye on what’s next and never losing sight of what matters, Owens & Minor, Inc. has established a leadership position in the healthcare industry in the 130 years since we first opened our doors to customers. Today, we provide distribution, third-party logistics, and other supply chain management services to healthcare providers and suppliers of medical and surgical products, and we are the leading distributor of medical and surgical supplies to acute- care providers in the United States. We serve the distribution needs of our 4,000 healthcare provider customers through 48 distribution centers located strategically across the nation. As for our supplier customers, we have developed a third-party logistics service that is currently operating from two logistics centers in the U.S. While we pride ourselves on the blocking and tackling of daily distribution, we are also widely known for providing advanced supply chain consulting services and solutions for improving supply chain performance. In 2011, we expanded our borders by establishing a sourcing arm in Asia. A FORTUNE 500 company with revenues of $8.6 billion in 2011, Owens & Minor, Inc. is traded on the New York Stock Exchange under the symbol OMI. Our commitment to our customers, teammates, and communities is matched by our commitment to our shareholders. An important part of our mission, vision and values is creating long-term value for our shareholders, and with a ten-year cumulative total return of 175%, we have demonstrated our commitment, even as we serve a complex and changing market. For more information about Owens & Minor, please visit our website at www.owens-minor.com. Our Mission To create consistent value for our customers and supply-chain partners that will maximize shareholder value and long-term earnings growth; we will do this by managing our business with integrity and the highest ethical standards, while acting in a socially responsible manner with particular emphasis on the well- being of our teammates and the communities we serve. Our Vision To be a world-class provider of supply-chain man- agement solutions to the selected segments of the healthcare industry we serve. Our Values We believe in high integrity as the guiding principle of doing business. We believe in our teammates and their well-being. We believe in providing superior customer service. We believe in supporting the communities we serve. We believe in delivering long-term value to our shareholders. 2010 Annual Report & Form 10-K Financial Highlights (in millions, except per share data) Year ended December 31, (1) (2) (3) Net revenue Income from continuing operations Loss from discontinued operations, net of tax Net income Income (loss) per common share - diluted: (4) Continuing operations Discontinued operations Net income per share - diluted Cash dividends per common share (4) Book value per common share at year-end (4) (5) Stock price per common share at year-end (4) Total assets Total debt Owens & Minor, Inc. shareholders’ equity Percent Change 2011 2010 2009 ’11/’10 ’10/’09 $8,627.9 $115.2 $8,123.6 $110.6 $8,037.6 $116.9 6.2% 4.2% 1.1% (5.4%) — — ($12.2) NM(6) NM $115.2 $110.6 $104.7 4.2% 5.6% $1.81 — $1.81 $0.800 $14.47 $27.79 $1.75 — $1.75 $0.708 $13.52 $29.43 $1.86 ($0.19) $1.67 $0.613 $12.23 $28.62 $1,946.8 $214.6 $1,822.0 $210.9 $918.1 $857.5 $1,747.1 $210.9 $769.2 3.4% NM 3.4% 13.0% 7.0% (5.6%) 6.8% 1.8% 7.1% (5.9%) NM 4.8% 15.5% 10.5% 2.8% 4.3% 0.0% 11.5% 3) In January 2009, we exited our direct-to-consumer business (the DTC Business). Accordingly, the DTC Business is presented as discontinued operations for all periods presented. For additional information regarding discontinued operations, see Note 3 of Notes to Consolidated Financial Statements. 2) We terminated our defined benefit pension plan in the fourth quarter of 2010 and recognized a settlement charge of $19.6 million ($11.9 million after taxes, or $0.19 per common share). See Note 12 of Notes to Consolidated Financial Statements. 3) We incurred charges of $12.7 million associated with exit and realignment activities ($7.7 million after taxes, or $0.13 per common share) in the fourth quarter of 2011. See Note 8 of Notes to Consolidated Financial Statements. 4) Prior periods have been retroactively adjusted to reflect a three-for-two stock split effected on March 31, 2010. See Note 1 of Notes to Consolidated Financial Statements. 5) Represents Owens & Minor, Inc. shareholders’ equity divided by year-end common shares outstanding. 6) NM - Percent change is not meaningful. Revenue Net Income $8.63 $8.04 $8.12 $115.2 $110.6 $104.7 Income Per Diluted Share From Continuing Operations $1.86 $1.81 $1.75 ) s n o i l l i B n i s r a l l o D ( ) s n o i l l i M n i s r a l l o D ( ) e r a h s n o m m o c r e p s r a l l o D ( Dividends $0.800 $0.708 $0.613 ) e r a h s n o m m o c r e p s r a l l o D ( 2009 2010 2011 2009 2010 2011 2009 2010 2011 2009 2010 2011 2011 Annual Report & Form 10-K 1 To Our Shareholders Dear Shareholders, Teammates, and Friends: A s we look back on 2011 and turn the corner into 2012, all of us at Owens & Minor understand that we are stewards of a company that is now 130 years old. But, we also know that we are stewards of a company that plays a leading role in our sector of healthcare. How have we managed to develop and maintain this leadership position? As we say on the cover of this year’s annual report, “we keep our eye on what’s next, but never lose sight of what matters.” And, “what matters” to Owens & Minor is our customers, teammates, communities, and shareholders. For the past 130 years, we have served these constituents to the best of our ability as we have grown our business from a local storefront to a national presence. While we look back on generations of progress with pride, we also purposely “keep our eye on what’s next” so that we anticipate the evolving needs of the healthcare supply chain and continue to create value for our shareholders. We had strong 6.2% revenue growth in 2011, but conditions in the healthcare industry remained challenging, as lower utilization of health- care services trends continued. Analysis reveals that our revenue growth resulted primarily from relationships with our long-standing customers. We are fortunate that our customers, who rank among the best-known hospitals in the United States, are adept at growing market share and developing ancillary services, such as physicians’ practices, to complement their acute-care offerings. As these large integrated healthcare networks (IHNs) grow in complexity, they seek strategies and partners that can deliver optimal supply chain performance. These customers are a good match for Owens & Minor because they know we offer the advanced supply chain solutions and the nationwide infrastructure necessary to support an increasingly complex healthcare delivery system. Because our customers represent the best of the nation’s healthcare providers and are critical to our success, we were pleased to earn high marks from our annual customer satisfaction survey. Overall customer satisfaction was high, with 96% of our customers indicating they were satisfied with our service. And, in a new measurement, we found that customer loyalty was strong at 71%. The independent survey firm describes this as a very high rating for a business-to-business company such as ours. However, we will not rest on our achievements. Our teammates know that customer approval is hard to earn and easy to jeopardize, so all of us at Owens & Minor strive for daily improvement. We know we must work smarter every single day to forge stronger relationships with our customers and to effectively leverage our efforts. In serving the healthcare market for many years, we have witnessed “Looking ahead to 2012, we believe we are well-positioned to support our healthcare customers, both providers and suppliers, as they navigate the course set by a changing industry. We have the teammates, the expertise, and the vision to serve the complex healthcare sector. But, as we serve this market, we will not stray from the values that have defined our company for 130 years. We will keep our eye on what’s next, but never lose sight of what matters.” 2 2011 Annual Report & Form 10-K our share of change. But recently, we have seen accelerated consolidation in the healthcare industry. Large IHNs are getting bigger, hospital acquisitions are occurring at a fast pace, and healthcare systems are forming their own groups and associations. These large systems are no longer confined to just one metropolitan area, but often have hospital facilities spanning several states, which we then serve from multiple distribution centers. Yet, even though their geographical reach is wide, their decision-making is becoming more and more centralized. As these large IHNs, which we refer to as our “enterprise customers,” gain size and scale, they are having an impact on the dynamics of the healthcare market. The changing approach to the market by this new enterprise customer has prompted us to make some changes of our own. For example, we closed two distribution centers in the fourth quarter that did not meet our plans for the future, reorganized certain teammate functions, and realigned certain resources to better serve our customers and make more efficient use of our teammates, energy, and efforts. In a changing healthcare market, agility will be the key to sustained growth. We are committed to aligning our distribution centers, our resources, our teammates, and our leaders with the most promising opportunities in the market. Now, let’s turn to an update of our business. At our December Investor Day, we reviewed the four key initiatives that form the foundation for our strategic business goals: modernizing the infrastructure that supports our core business; expanding our services in selected non-acute care markets in healthcare; enhancing our strategic sourcing and product management efforts; and positioning our third-party logistics business, OM HealthCare Logistics (OM HCL), as a vital supply chain solution in healthcare. I am very pleased that during 2011, we made substantial headway on these strategic initiatives, which I believe are critical to the long-term growth and success of the company. In support of these initiatives, we recruited a new officer-level leader for OM HCL and have added strength to the OM HCL team in the areas of operations and sales. This supplier-focused, third-party logistics service has the systems, infrastructure and vision required to serve the multi-faceted needs of healthcare manufacturers and suppliers in a global economy. During the year, we also ventured outside of the United States by establishing a joint venture for sourcing with Amsino Medical Group, a developer and manufacturer of healthcare products. At our Mira MEDsourceSM offices in Shanghai, we have a new team in place with the expertise to source products directly for our private-label brand, MediChoice®. The new team has expertise in quality assurance, sourcing, logistics and transportation. All of us at Owens & Minor are excited that we now have a presence in Asia. Looking at our financial results for 2011, revenues grew to $8.6 billion, and gross margin was 9.94% of revenues, while selling, general and administrative expense was 7.08% of revenues. Excluding pre-tax charges of $12.7 million in the fourth quarter of 2011 for exit and realignment activities, our operating earnings for the year were 2.51% of revenues. Income per diluted share was $1.94, unchanged when compared to the year before, once these 2011 charges and pension settlement charges in 2010 are excluded. While our revenue 2011 Annual Report & Form 10-K 3 growth was very solid in 2011, everyone on our team recognizes that we need to do a better job of translating our top line growth into improved performance on the bottom line. Our leaders and our teammates clearly understand that the job of converting revenue into profit is the underlying goal of our strategic initiatives. Looking back at 2011, we successfully completed three sets of extremely complex customer conversions. These three projects required multi-state, multi-distribution center coordination, and although we perform customer conversions with regularity, it would be a mistake to think that these types of conversions are simple. These are complicated activities and contracts that involve the time, energy and expertise of a wide range of our teammates, and frequently require us to build inventory, or move or expand facilities, as was the case in these conversions. No matter what changes occur in the healthcare industry and no matter what course Owens & Minor takes to navigate the changes, we know that an essential part of our mission, vision and values is creating value for our shareholders. At Owens & Minor, our board of directors, which has long supported the dividend as an essential element of total shareholder return, approved a 10% increase in the 2012 quarterly dividend to $0.22 per common share. We are also now in the second year of our $50 million share-repurchase program, which is designed to offset the shares awarded through our incentive compensation program. And, we believe that our long-term shareholders have been rewarded for their loyalty. Our 10-year cumulative total return is approximately 175%, an impressive result which far exceeds the performance of the S&P 500 Index over the same time period. Serving our healthcare customers, driving innovation in the supply chain, and creating value for our shareholders are a daily focus for us, but we have long understood that our company is only as strong as our teammates. Because our teammates are vital to our success, we continue to invest in their well-being and in their development. We are pleased with the investments we have made in Owens & Minor University® (OMU®), since we founded the institution in 2003. In 2011 alone, teammates took more than 46,000 classes through OMU, and we awarded more than 500 specialty training course certifications to distribution center teammates. We also extend learning opportunities to our customers. More than 100 hospital-customer students participated in instructor-led training or online courses in 2011. Over the last five years, OMU has delivered nearly 99,000 hours of education to our customers, enhancing their understanding of the healthcare supply chain. We also know that Owens & Minor is only as healthy as the communities we serve. Consequently, we invest in our communities through a variety of ways. We have a robust, company-wide culture of volunteerism. Across the nation, our teammates donate time, talent, and funds to a wide-ranging number of community service organizations. Another way we strengthen our communities is through doing business with minority-, women-, and veteran-owned businesses. Approximately one third of our private-label products come from diversity suppliers, a statistic that we take great pride in. We have an active mentor/ mentee program, designed to help diversity businesses achieve success in the healthcare market. And, each year we host a Supplier Diversity Symposium that enables these business owners to network, learn from Owens & Minor and our business partners, and find innovative ways to do business in healthcare. Finally, as we build our team for the future, we are recruiting young people from a wide variety of backgrounds, because we believe that building diversity is fundamental to the success of our business. ACHIEVED MORE THAN 190,000 TEAMMATE COURSE COMPLETIONS SINCE ’03 AWARDED 3,925 DISTRIBUTION CENTER CERTIFICATIONS SINCE PROGRAM STARTED IN ’08 MORE THAN 99,000 HOURS OF CUSTOMER STUDENT EDUCATION DELIVERED SINCE ’06 4 2011 Annual Report & Form 10-K As for the well being of the communities we serve, we are committed to doing business with sustainability in mind. Accordingly, we are taking steps to reduce, reuse and recycle. Our goal is to improve energy efficiency and save natural resources by implementing company- wide programs for energy management and recycling. Our sustainability efforts in 2011 were impressive; we recycled more than 4,900 tons of material, enough to save more than 80,000 trees, and a 49% increase over the prior year. We recycled nearly half a million pallets, saving another 29,000 trees, and we reduced carbon emissions by nearly 14,000 tons. While improving our sustainability ratings is important to us and to the communities we serve, it is a business imperative as well. Our customers increasingly look for sustainability programs and progress in their business partners. During the year, we were recognized by several of our group purchasing organization partners and singled out for a variety of awards for excellence. And, we were recognized by CIO Magazine as one of the CIO 100 for 2011. This is no small achievement for a company that is entering its 130th year. We were pleased that our investments in, and strategic use of, information technology were recognized in this prestigious honor. In 2012, we will continue to enhance our information technology infrastructure with the launch of a significant multi- year transformation of our systems. Looking ahead to 2012, we believe we are well-positioned to support our healthcare customers, both providers and suppliers, as they navigate the course set by a changing industry. We have the teammates, the expertise, and the vision to serve the complex healthcare sector. But, as we serve this market, we will not stray from the values that have defined our company for 130 years. We will keep our eye on what’s next, but never lose sight of what matters. Finally, I would like to close with a special thank you to Peter Redding, who will retire from the board of directors in April. Pete’s leadership over the past thirteen years has made a lasting contribution to our board and our company. I want to thank all the members of our board of directors for their continuing guidance and support, our shareholders for their confidence in us, and our customers for their loyalty and willingness to partner in finding innovative ways to manage the healthcare supply chain. And, I also want to thank our teammates for their hard work in 2011. At Owens & Minor, we never underestimate the influence of our teammates in the marketplace. They are our ambassadors; they are our energy and our innovation; and they are our values and our reputation. Our teammates truly distinguish Owens & Minor in a very competitive market, and they are responsible for our continued success in healthcare. Best wishes to all of our supporters for a successful 2012! Sincerely, Craig R. Smith President & CEO SUSTAINABILITY 2011 RECYCLED 4,900 TONS OF MATERIAL, (A 49% INCREASE OVER 2010) RECYCLED 480,000 PALLETS REDUCED CARBON EMISSIONS BY NEARLY 14,000 TONS 2011 Annual Report & Form 10-K 5 What’s Next for the Supply Chain As we think about our future, we keep our eye on what’s next in the healthcare supply chain. Whether we are handling distribution for our customers in the U.S., improving the healthcare supply chain as consultants, sourcing product from Asia, or handling logistics domestically or internationally, we remain focused on improving the efficiency of the healthcare supply chain. But, we never lose sight of the needs of our teammates, customers, communities and shareholders, because that is what matters most. 6 2011 Annual Report & Form 10-K 2011 Annual Report & Form 10-K 7 Board of Directors G. Gilmer Minor, III (71) 1* Chairman & Retired CEO, Owens & Minor, Inc. James E. Rogers (66) 1, 3 Lead Director, Owens & Minor, Inc. Chairman, BackOffice Associates Retired President, SCI Investors Inc. A. Marshall Acuff, Jr. (72) 1, 3, 5* Managing Director, Cary Street Partners Retired Senior Vice President & Managing Director, Salomon Smith Barney, Inc. J. Alfred Broaddus, Jr. (72) 3, 5 Retired President, Federal Reserve Bank of Richmond Richard E. Fogg (71) 1, 2*, 4 Retired Partner, PricewaterhouseCoopers LLP John W. Gerdelman (59) 2, 4 Managing Partner, River2 Lemuel E. Lewis (65) 2, 5 President, LocalWeather.com Retired EVP & CFO, Landmark Communications Eddie N. Moore, Jr. (64) 2, 5 CEO & Interim President, Saint Paul’s College President Emeritus, Virginia State University Peter S. Redding (73) 2, 4* Retired President & CEO, Standard Register Company Robert C. Sledd (59) 3, 4 Senior Economic Advisor to the Governor of Virginia Former Chairman, Performance Food Group Co. Craig R. Smith (60) 1, 4 President & CEO, Owens & Minor, Inc. Anne Marie Whittemore (65) 1, 3*, 5 Partner, McGuireWoods LLP Board Committees: 1Executive Committee, 2Audit Committee, 3Compensation & Benefits Committee, 4Strategic Planning Committee, 5Governance & Nominating Committee, *Denotes Chairman Corporate Officers Craig R. Smith (60) President & Chief Executive Officer President since 1999 and Chief Executive Officer since July 2005. Mr. Smith has been with the company since 1989. James L. Bierman (59) Executive Vice President & Chief Financial Officer Executive Vice President & Chief Financial Officer since April 2011. Previously, Mr. Bierman served as Senior Vice President & Chief Financial Officer from June 2007 to April 2011. Prior to joining Owens & Minor, Mr. Bierman served as Executive Vice President & Chief Financial Officer at Quintiles Transnational Corp. from 2001 to 2004. He joined Quintiles in 1998. Prior to that, Mr. Bierman was a partner of Arthur Andersen LLP from 1988 to 1998. Charles C. Colpo (54) Executive Vice President & Chief Operating Officer Executive Vice President & Chief Operating Officer since 2010. Previously, Mr. Colpo served as Executive Vice President, Administration, from 2008 until 2010. Prior to that, Mr. Colpo served as Senior Vice President, Operations, from 1999 until 2008. He also served as Senior Vice President, Operations & Technology, from April 2005 to July 2006. Mr. Colpo has been with the company since 1981. Erika T. Davis (48) Senior Vice President, Human Resources Senior Vice President, Human Resources, since 2001. From 1999 to 2001, Ms. Davis was Vice President of Human Resources. Ms. Davis has been with the company since 1993. Grace R. den Hartog (60) Senior Vice President, General Counsel & Corporate Secretary Senior Vice President, General Counsel & Corporate Secretary, since joining Owens & Minor in 2003. Previously, Ms. den Hartog served as a partner of McGuireWoods LLP from 1990 to 2003. D. Andrew Edwards (53) Vice President, Controller & Chief Accounting Officer Vice President, Controller & Chief Accounting Officer, since April 2010. Previously, Mr. Edwards served as Vice President, Finance, from December 2009 until April 2010. Prior to joining Owens & Minor, Mr. Edwards served as Vice President & Chief Financial Officer at Tredegar Corporation from August 2003 to December 2009. He joined Tredegar in 1992. Richard W. Mears (51) Senior Vice President, Chief Information Officer Senior Vice President, Chief Information Officer, since joining Owens & Minor in 2005. Previously, Mr. Mears was an Executive Director with Perot Systems (now Dell Perot Systems) from 2003 to 2005, and an account executive from 1998 to 2003. Brian J. Shotto (48) Senior Vice President, Specialty Services Senior Vice President, Specialty Services, since joining Owens & Minor in October 2011. Previously, Mr. Shotto served as a Principal Consultant for the Blue Fin Group from 2009 until 2011. From 2006 to 2009, he served as Vice President, Distribution Strategy – Healthcare, UPS, a company he joined in 2000. Mr. Shotto also served the American Red Cross as Vice President, Supply Chain Operations from 1999 to 2000. Previously, Mr. Shotto was Vice President, Operations – Healthcare, FedEx Supply Chain Services, from 1996 to 1999, a company he joined in 1990. Mark A. Van Sumeren (54) Senior Vice President, Strategy & Business Development Senior Vice President, Strategy & Business Development, since 2007, and Senior Vice President, Business Development, since 2006. Prior to that, Mr. Van Sumeren was Senior Vice President, OMSolutionsSM from 2003 to 2006. Mr.Van Sumeren previously served as Vice President for Cap Gemini Ernst & Young from 2000 to 2003. He has been with the company since 2003. Numbers inside parentheses indicate age. 8 2011 Annual Report & Form 10-K Corporate Information Annual Shareholders’ Meeting The annual meeting of Owens & Minor, Inc.’s shareholders will be held at 10:00 a.m. on Friday, April 27, 2012, at Owens & Minor, Inc., 9120 Lockwood Boulevard, Mechanicsville, VA 23116; 804-723-7000. Communications & Investor Relations Press Releases Owens & Minor, Inc.’s press releases are available at www.owens-minor.com. Transfer Agent, Registrar and Dividend Disbursing Agent Computershare Shareowner Services LLC P.O. Box 358015 Pittsburgh, PA 15252-8015 Website: www.bnymellon.com/shareowner/equityaccess Toll-free: 866-252-0358 (Inside the United States and Canada) 201-680-6685 (Outside the United States and Canada) Stock Purchase and Dividend Reinvestment Plan Our transfer agent, Computershare Shareowner Services (“Computershare”), offers a Direct Purchase & Sale Plan for shares of Owens & Minor, Inc. common stock known as the BuyDIRECTSM Plan. The BuyDIRECTSM Plan provides registered shareholders of Owens & Minor and interested first-time investors a way to buy and sell shares of Owens & Minor common stock. Information may be obtained through the “Investment Plan Enrollment” link at www.bnymellon.com/ shareowner/equityaccess, or by contacting Computershare (see contact information above). Shareholder Records Correspondence concerning stock holdings, lost or missing dividend checks, or changes of address for shares of Owens & Minor, Inc’s. common stock should be directed to Computershare’s Investor Care Department: Investor Relations 804-723-7555 Information for Investors The company files annual, quarterly and current reports, information statements and other information with the Securities and Exchange Commission (SEC). The public may read and copy any materials that the company files with the SEC at the SEC’s Public Reference Room at 100 F Street, NE, Washington, D.C. 20549. The public may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. The address of that site is http://www.sec.gov. The address of the company’s website is www.owens-minor.com. Through a link to the SEC’s Internet site on the Investor Relations portion of our website, we make available all of our filings with the SEC, including our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports, as well as beneficial ownership reports filed with the SEC by directors, officers and other reporting persons relating to holdings in Owens & Minor, Inc. securities. This information is available as soon as the filing is accepted by the SEC. Corporate Governance The company’s Bylaws, Corporate Governance Guidelines, Code of Honor and the charters of the Audit, Compensation & Benefits, and Governance & Nominating Committees are available on the company’s website at www.owens-minor.com and are available in print to any shareholder upon request by writing to: Owens & Minor, Inc. c/o Computershare Investor Care Department P.O. Box 358015 Pittsburgh, PA 15252-8015 Duplicate Mailings When a shareholder owns shares in more than one account, or when several shareholders live at the same address, they may receive multiple copies of company mailings. To eliminate duplicate mailings, please write to the transfer agent or consider enrolling in MLink (via Computershare’s website above), which offers secure online access to financial documents and shareowner communications. Independent Registered Public Accounting Firm KPMG LLP Richmond, Virginia Corporate Secretary Owens & Minor, Inc. 9120 Lockwood Boulevard Mechanicsville, Virginia 23116 Communications with the Board of Directors The Board of Directors has approved a process for shareholders to send communications to the Board. Shareholders can send written communications to the Board, any committee of the Board, the Lead Director or any other individual director at the following address: P.O. Box 26383, Richmond, Virginia 23260. Certifications The company’s Chief Executive Officer certified to the New York Stock Exchange (NYSE) within 30 days after the company’s 2011 Annual Meeting of shareholders that he was not aware of any violation by the company of NYSE corporate governance listing standards. The company also filed with the SEC as exhibits 31.1, 31.2, 32.1 and 32.2 to its Annual Report on Form 10-K for the year ended December 31, 2011, certifications by its Chief Executive Officer and Chief Financial Officer. Corporate Office 804-723-7000 www.owens-minor.com Street Address 9120 Lockwood Boulevard Mechanicsville, Virginia 23116 Mailing Address Post Office Box 27626 Richmond, Virginia 23261-7626 

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