MetroWest495 Biz

MetroWest495 Biz | May 2015 5 Roundup Upward trajectory for Cognex Corp. Machine sensor manufacturer Cognex Corp. of Natick had record-high revenue, net income and earnings per share in the first quarter, the company reported. Robert J. Shillman, chairman of Cognex, said in a statement that revenue grew 25 percent compared with the first quarter of 2014, "driving the highest first quarter net income and earnings per share in Cognex's 34-year history." The quarter, which ended April 5, had revenue of $113.4 million, net income of $20.5 million, and net income per share of 23 cents. In the first quarter of 2014, Cognex had revenue of $90.9 million, net income of $18.5 million, and net income per diluted share of 21 cents. Life sciences firm in Holliston reports loss Harvard Bioscience of Holliston reported a $1.4-million loss amid lower first-quarter revenues of $25.8 million, a slight drop of about 0.5 percent from $25.9 million in the same period of 2014, the life sciences manufacturer said. Revenue for the three months ending March 31 included sales from recent acquisitions Multi Channel Systems MCS GmbH, Triangle BioSystems Inc. and HEKA Electronik, the company noted in its report. However, the com- pany said, those revenues were offset by the nega- tive impact abroad from a stronger dollar. Harvard Bioscience, which makes life sciences equipment and instruments, conducts about 35 percent of its busi- ness in Europe. Ocata stem cell line holds promise A new study has affirmed encouraging results for treating macular degeneration using Ocata Therapeu- tics' stem-cell line RPE, the Marlborough company reported. The company, formerly Advanced Cell Technology, said treatment with the fully differ- entiated cells — RPE is short for retinal pigment epithelium — had positive results in Asian patients in a South Korean study. The new research, Ocata said, supports earlier findings reported in in October. The Korean study has been published online in Stem Cell Reports. It features 12 months of post-transplant follow-up data from four Asian patients; two with Stargardt's macular degeneration (SMD) and two with dry age-related macular degeneration (AMD). Milford's Waters Corp. exceeds earnings forecast Waters Corp. beat analysts' expectations for the first quarter thanks to "broad-based" organic growth, the Milford company reported. The international laboratory instrument manufacturer reported earn- ings per diluted share of $1.15 compared to 82 cents for the first quarter of 2014. That beat analysts' estimates of $1.02 for the quarter. The company also reported first-quarter sales of $460 million, an in- crease of 7 percent over the $431 million reported in the first quarter of 2014. "Broad-based end customer, product and geographical demand characterized our exceptional organic revenue growth in the first quarter," said president, CEO and chairman Douglas A. Berthiaume. With purchase, Lightower to reach broader territory Lightower Fiber Networks of Boxborough is buy- ing a Rochester, N.Y.-based competitor. Lightower, a technology network services provider, and Fib- ertech Networks announced the all-cash agreement. The sale is valued at $1.9 billion. The deal is expected to close in the third quarter, pending regulatory ap- provals. It will expand Lightower's reach throughout the Northeast, growing its service locations to almost 13,000 sites, including commercial buildings, data centers, financial exchanges, content hubs and other communications facilities. The combined company will be led by Lightower CEO Rob Shanahan, the firms announced. Psychemedics Corp. issues profit report Acton-based employment drug testing company Psychemedics Corp. reported a profit of 5 cents per share on net income of $278,000 in the first quarter, which ended March 31. The company also reported promising business prospects because of recently passed regulations in Brazil. The company's profit was down from the fourth quarter of 2014, when it was 14 cents a share. The company said it would pay a quarterly dividend of 15 cents a share, its 75th consecutive quarterly dividend. Revenue for the first quarter was $6.77 million, down 4 percent from the $7 million in the first quarter of 2014. Earnings adjustment for Boston Scientific Marlborough-based Boston Scientific Corp. reported adjusted first-quarter earnings of 21 cents per share, a penny higher than for the first quarter of 2014, and at the high end of the company's projection of 19 to 21 cents. However, litigation-related costs and other charges contributed to a net loss of $1 million in the quarter, with no per-share change. A year earlier, Boston Scientific had a profit of $133 million. The first quarter ended March 31. Boston Scientific also said its operational revenue grew 6 percent for the quarter, compared with the first quarter of 2014, though it was flat on a reported basis. Sales were $1.77 billion dur - ing the quarter, in line with the company's expecta- tion, which was in the range of $1.74 to $1.8 billion. Revenue, though, missed the consensus estimate from Zacks analysts of $1.77 billion. Dean College, New England sports teams band together Dean College in Franklin and the owners of the New England Patriots and New England Revolu- tion are creating a program that will give students access to the team's executives and operations as part of their education. The college and The Kraft Sports Group, which owns the two teams, last week announced the formation of The Center for Busi- ness, Entertainment and Sport Management, which will offer students insight from team executives. The Kraft group said this enhances a relationship the two organizations launched in 2009. Patriots and Revolution executives will participate with members of the Dean faculty in classroom activities. This will cover programs that include: arts and entertainment management, business, media studies and commu- nications, security management, sport management and sports and fitness studies. Grant to fuel Sevcon hirings Southborough-based manufacturer Sevcon said it's looking to beef up its staff by 20 after the maker of controls for electric and hybrid motor vehicles received a grant to develop a new range of products. Sevcon said it received 400,000 British pounds, or more than $600,000, from a fund sponsored by the U.K. government to develop the next generation of the company's Gen4 controller. The low-voltage controller will provide additional functionality and deliver improved performance, exceeding the emerg- ing environmental and regulatory benchmarks in smaller dimensions than its predecessor, Sevcon said in a statement. Staples acquisition of N.Y. firms complete Office supply giant Staples of Framingham said it has completed the acquisition of Makr — an iOS app that enables people to design and print one-of-a-kind materials — and its parent company Happy; both based in Brooklyn, N.Y. Terms and conditions of the sale were not disclosed. Makr is a design and print shop for iOS devices, with which businesses can design or upload logos to create custom branding ma- terials such as business cards, and T-shirts. Makr's app was named a "Best of 2014" by Apple, with over 500,000 downloads. "Staples' copy and print services are a dynamic and growing part of our business, and Makr's revolutionary approach will put high-end design in the hands of small- and medium-sized businesses." Faisal Masud, executive vice president for global e-commerce at Staples, said in the state- ment announcing the acquisition. Staples' acquisition of Canadian firm announced Staples is also acquiring Accolade Promotion Group (APG), a Canadian distributor of promotional prod- ucts. In a statement, Staples and Golf Town Canada Inc., APG's parent firm, said the deal will build on Staples' position as the largest distributor of promo- tional products in North America and expand the breadth of offerings for its customers. The acquisition, for which terms were not disclosed, "will further Sta- ples' ability to bring customers a strong brand partner with a broader offering in Canada," Steve Bussberg, senior vice president of Staples Advantage, said in the statement. Staples Advantage oversees Kansas-based Staples Promotional Products (SPP), a leading promo - tional products distributor in North America. EMC and Iron Mountain join forces Hopkinton-based EMC Corp. has teamed up with Iron Mountain to expand both companies' offerings to customers, the companies announced. The partnership will allow customers to combine EMC's backup appliances with Iron Mountain's off-site data vaulting. The two services are usually purchased together, according to a statement from Iron Mountain, and will help customers transition from tape-managed storage to cloud replication. Iron Mountain's off-site storage expertise pairs well with EMC's technology, added Jim Clancy, EMC's senior vice president of data protection solutions. SBA honors for BioSurfaces Inc. of Ashland Bio-medical device maker BioSurfaces Inc. of Ashland has been named the state's Microenterprise of the Year for 2015 by the Massachusetts office of the U.S. Small Business Administration (SBA). Bio- Surfaces was formed in 2003 by Matthew and Tina EVERYTHING YOU NEED TO KNOW ABOUT METROWEST ENERGY NONPROFIT CSG OF WESTBOROUGH SOLD Conservation Services Group, CSG, the Westborough-based, non-profit provider of energy efficiency services, has been sold to a Texas company after 31 years of operation, the firms announced. CSG operates in 14 states and oversees 70 residential energy efficiency programs, including MassSave, which is run by major Bay State utilities National Grid and Eversource. Pending regulatory approval, CSG will become part of CLEAResult, based in Austin, Texas, according to CSG. CSG has 800 employees, about half of whom work out of Westborough. s page 6

• Cover