May 12, 2008
Central Mass In Review
Devens
AMSC Gives Earnings A Jolt
American Superconductor Corp. at Devens saw explosive revenue growth in the fourth quarter of 2007, while dramatically reducing its losses during the same period. Its 2007 fourth quarter revenue was $38.4 million, a 101 percent increase over the same period the prior year, when it brought in $19.1 million.
Framingham
Autodesk To Buy Framingham’s Moldflow
Design software maker Autodesk Inc. of California said it will buy Framingham-based Moldflow Corp. for $297 million. Moldflow designs software for the plastics manufacturing industry. The company has 285 employees in locations around the world and reported 2007 revenue of $55.9 million. Autodesk said it would buy all outstanding Moldflow shares and hopes to close the deal sometime before the end of June.
Hopkinton
Caliper Posts Wider Q1 Loss
Caliper Life Sciences Inc. in Hopkinton lost more money and made a little more in revenue in the first quarter of 2008, compared to the same time last year. The company’s revenue increased to $29.3 million, about 3 percent more than $28.4 million in the same period last year. It also saw a net loss of $9.9 million compared to $9.6 million a year ago.
Littleton
Sales Down For Equestrian Co.
Littleton-based Dover Saddlery lost $359,000 in the first quarter of 2007 and saw net revenues drop 4.9 percent to $17.7 million. The loss was 61 percent less than in the same quarter last year, when Dover lost $915,000, mainly due to a lawsuit settlement. The company said the continuing loss was a result of soft customer demand. It also said it is reviewing its plan to open four to six new retail stores this year in light of the weak retail environment.
Marlborough
Sepracor Inc. To Buy Canadian Company
Marlborough drug company Sepracor Inc. announced that it plans to buy Oryx Pharmaceuticals Inc. of Canada, an affiliate of the Arrow Group, for at least $50 million to expand its commercial operations into Canada. Under the agreement, Oryx shareholders may also receive later payments of up to $20 million depending on the achievement of regulatory milestones. Sepracor said it expects the transaction to close on June 1.
Natick
BSX Pacemakers Set For Release In Europe
A line of Natick-based Boston Scientific’s pacemakers has been approved for launch in Europe. The company’s Altrua family of pacemakers earned the CE mark of approval, and company executives say the designation is proof of the “significant progress we have made rebuilding” the company’s pacemaker division.
Strurbridge
OSV Attendance Up 33%
Old Sturbridge Village says high gas prices and frustrating air travel have a lot to do with the living museum’s 33 percent increase in visitors between January and the end of April compared to the same period last year. The museum said visits between April 5 and April 21, school vacation time, increased 38 percent over the same period in 2007. Through April 30, 41,157 people visited the museum this year. Last year, 30,948 people visited during the same period.
Uxbridge
Bernat Mill Owner Buys Nearby Office Space
Capron Corp., the owner of the former Bernat Mill in Uxbridge, has bought the empty commercial building next to the mill, which was destroyed by fire last year. Capron bought the building from Mary Kottsis of Uxbridge for $175,000 and plans to establish an office there during the reconstruction of the mill.
Worcester
Judge OKs Injunction In Commerce Bank Squabble
A judge okayed a preliminary injunction preventing TD Bank from using the name “TD Commerce Bank” in Worcester, Middlesex, Suffolk, Norfolk and Essex counties. Worcester-based Commerce Bank & Trust sought the ruling because it worries its customers will be confused if TD Bank is allowed to use the name TD Commerce Bank as a result of a merger.
OSHA: ‘Serious’ Violations In Worcester Worker’s Death
After an investigation into the death of a worker last December in Worcester, the federal Occupational Safety and Health Administration has issued a citation saying Intransit Container Inc. committed six “serious” legal violations. Spencer resident Paul Harding, a mechanic at the company’s location on Wiser Ave., died after being hit with a tire and rim that exploded from a vehicle on Dec. 31. OSHA proposed a fine of $28,825 for violations.
WBJ Web Partners
Most Recent
Most Recent
0 Comments