Third-Quarter Results Mixed For MetroWest Companies
It's third-quarter earnings release time, which means publicly-traded companies across MetroWest and Central Massachusetts are posting updates on how business is going.
The most profitable company in MetroWest this quarter is Hopkinton-based data storage company EMC. Quarterly revenue increased 20 percent from $3.5 billion to $4.2 billion. Profits, meanwhile, rose more than 50 percent to $472.5 million. EMC reported $3 billion in cash flow from operating activities, an all-time record for the company.
A focus on frugality has paid off for Framingham-based TJX Cos. Its sales for the quarter totaled $5.5 billion, a 5-percent increase over 2009. Profits edged up 6.9 percent to $372 million.
BJ's Wholesale Club Inc., based in Natick, also recorded another positive quarter. The company has made headlines as rumors swirl over a possible sale, but that hasn't impacted the company's bottom line. Profits increased to $23 million on $2.6 billion in sales in the third quarter. That's up from a $17.4 million profit on $2.5 billion in sales last year.
Regaining Strength
Other MetroWest companies are clearly recovering from a difficult 2009.
Take Cognex Corp. in Natick, for example. The company makes sensors to track products along assembly lines. Quarterly revenue increased more than 80 percent to $75 million while profits rose more than threefold on a year-over-year basis to $18 million.
Ameresco Inc., the Framingham-based energy efficiency contractor saw similarly impressive gains.
Revenue was up 45 percent to $191 million for the company. Profits increased from $8.2 million last year to $12 million this year.
But the third quarter wasn't kind to every company.
The Princeton Review Co., based in Framingham, made a major transaction at the end of last year and purchased online education company Penn Foster. While the move boosted the company's profits more than 50 percent in the third quarter, the firm's test-prep business still lost $8.7 million.
Caliper Life Sciences in Hopkinton has also struggled to be profitable. After posting a $9.2-million profit in the second quarter of this year, the company fell back to a $1.3 million loss during the third quarter. Revenue was also down about 8 percent to $29.7 million.
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