May 26, 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
Framingham Firm Faces Possible Closure
The assets of Framingham-based Symbollon Pharmaceuticals Inc. are only enough to keep the company running until the end of next month, according to its SEC filings. Continued operations past June 30 are “dependent upon obtaining additional financing, reducing expenses and/or pursuing other strategic alternatives,” the company said. Symbollon said it lost $685,663 during the first quarter of the year, compared to $1.3 million for the same quarter last year.
Framingham Co. To Study Boston Garage Expansion
Tetra Tech Rizzo, a Framingham engineering consulting firm, has been chosen to help study the feasibility of expanding the Boston Common Garage. The Massachusetts Convention Center Authority awarded the contract for the garage, which has its entrance on Charles Street, directly across from the Public Gardens.
Franklin
PLC Makes First Euro Sales, Posts Wider Loss
PLC Systems Inc. of Franklin saw its revenues drop and its losses widen to $762,000 during the first quarter of 2008. The cardiac and vascular medical device company’s first quarter revenue was $1.17 million, compared to $1.49 million for the same time last year. Its first quarter losses were $762,000, compared to $686,000, for the same period last year.
Hopkinton
Q1 Loss Increases By More Than $1M At Alseres
Alseres Pharmaceuticals Inc. of Hopkinton did not see any revenue, while its net loss widened during the first quarter of 2008. The biotech firm, which is developing therapeutic and diagnostic products for central nervous system disorders, saw a net loss of $5.3 million in the first quarter, compared to $4.1 million during the same period in 2007.
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.
Littleton
Sales Down For Littleton 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.
Marlborough
New Evergreen Solar Contracts Worth $1B
Evergreen Solar Inc. of Marlborough recently signed two new long-term sales contracts worth about $1 billion. The company said it has agreed to supply about $750 million in solar panels to German solar power company Ralos Vetriebs GmbH between 2008 and 2013. The company also signed a smaller agreement with a U.S.-based installer.
Cytyc Exec Leaves Hologic
Patrick J. Sullivan, the former chairman, president and CEO of Marlborough-based Cytyc Corp. has resigned from his position as chairman of the board at Hologic Inc., the Bedford-based company that bought Cytyc last year. In a statement released by Hologic, Sullivan said he is leaving to pursue “new opportunities.”
Maynard
Stratus Gets Into Electronic Medical Records
Stratus Technologies Inc. of Maynard has struck an agreement with a new partner to sell Stratus medical-grade computer servers. Stratus has partnered with Canton-based Pulse Systems Inc., which sells electronic health record systems and medical practice management software, according to Stratus officials.
Natick
Q1 Sales, Profits Up At BJ’s
BJ’s Wholesale Club of Natick reported an increase in its sales and profits during the first quarter of 2008, compared to the same time last year. The company’s net income for the first quarter of 2008 was $17.2 million, compared to $13.7 million for the same period last year. BJ’s saw net sales rise by 12.3 percent to $2.26 billion, compared to $2.01 billion for the same time last year.
Worcester
P&W Sees Improvement In Q1
Providence and Worcester Railroad Co. reported a decrease in losses and an increase in revenue for the first quarter of 2008, compared to its 2007 quarter one results. The company had a net loss of $922,000 for the first quarter, compared to a $1.2 million loss in the same period of last year.
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