Worcester Business Journal

10 Worcester Business Journal | September 16, 2019 | wbjournal.com Micron Solutions eyes growth, profitability aer flurry of leadership changes Company overhaul The manufacturing floor of Micron Solutions in Fitchburg BY ZACHARY COMEAU Worcester Business Journal Staff Writer W ith new leader- ship in place and a bold new contract, Micron Solutions is poised for a recovery and profitability in the near future aer operating in the red for much of the past four years. e contract manufacturer based in Fitchburg is nearly all new at the top, including CEO Bill Laursen and Chief Financial Officer Wayne Coll. Laursen, named president and CEO last November, comes to the compa- ny from Westborough manufacturer Coghlin Cos. ere, he was executive vice presi- dent of business development where he helped the contract manufacturer win new business. at's one of his strengths he hopes to translate over to his new role at Micron, which he said had been mud- dling along for years but has a tremen- dous amount of potential. He compared the company's corpo- rate culture to that of a startup, which needs to attract talent and raise capital to purchase equipment. "At Micron, the equipment is already here, and a lot of talented people are here," he said. Now comes time to win new busi- ness, Laursen said. Microsoft's rounding error Under Laursen, the company has already done just that. In late August, the company announced a $3.7-million con- tract award with a leading medical device company, the identify of which it declined to disclose. at contract alone is expected to boost revenues by as much as 20%, Laursen said. "To bring on a 20% revenue im- provement with a single order is important," he said. "If we're Microso, it's a rounding error. For a company of our size, it's meaningful." Identifying new business leads was exactly his role as executive vice president of business development at Coghlin, said Chris Coghlin, CEO of the contract manufacturer. In addition to having a strong work ethic, energy and enthusiasm for the work, Laursen helped Coghlin score new business in several different sec- tors, including security, life sciences, medical device and robotics, Coghlin said. A non-disclosure agreement pre- vents Micron from talking about the new contract, but Laursen did call the mystery entity a multinational firm doing business all over the world. Laursen joined the company follow- ing four straight years of losses, which started with a $429,000 loss in 2015 when the company recorded $21.5 million in revenue compared to $24 million the year prior. For the last two years, the compa- ny's net loss has been above $1 million Micron financials 2014 $24 million $659,209 2015 $21.5 million -$429,166 2016 $19.6 million -$712,462 2017 $20.1 million -$1.35 million 2018 $19.5 million -$1.1 million Revenue Net income\loss

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