Worcester Business Journal

www.wbjournal.com August 17, 2015 • Worcester Business Journal 5 905 Hartford Turnpike, Shrewsbury, MA 01545 tel. 508.842.1213 • www.elevationee.com Before After Before After CUSTOM RENTAL GLOBAL GRAPHICS EVENTS PORTABLES UPGRADE YOUR SPACE • CORPORATE OFFICE DESIGN & INSTALL Committed to the success of your business Established in 1989, Bollus Lynch, LLP has evolved over the last 25 years to become one of the area's leading CPA firms. While we have experienced a lot of growth, we've maintained a deep commitment to the Central Massachusetts community and our growing list of valued clients. 89 Shrewsbury St. Suite 200 • Worcester, MA 01604 508-755-7107 • www.bolluslynch.com BOLLUS LYNCH CERTIFIED PUBLIC ACCOUNTANTS & CONSULTANTS increase in revenue was due to increas- es in both the company's wind and grid segments, according to the company. The company also cut net losses to $9.1 million, or 75 cents per share, from $13.5 million, or $1.74 per share, for the same period of fiscal 2014. Meanwhile, AMSC's cash, cash equiva- lents, and restricted cash totaled $42.6 million, compared with $24.5 million on March 31, 2015. WORCESTER — The Greater Worcester economy grew by 4.4 per- cent in the second quarter of 2015, led by hiring in the health services and leisure and hospitality industries, according to the latest estimates from the Worcester Economic Index (WEI). The WEI is released each quarter by Assumption College Economics Professor Thomas White. He said the Worcester economy added 9,800 jobs from June 2014 to June 2015, " … thanks to strong growth in the service sector, continuing a long-run trend to a more service-oriented economy that we have experienced here in Worcester and across the nation in recent decades," White said. "The only Worcester-area industries which expe- rienced a decrease in jobs were the goods-producing industries of con- struction and manufacturing." AYER — Health care workers at Nashoba Valley Medical Center who voted to form a union with 1199SEIU will receive a pay increase and other benefit enhancements as part of a new union contract agreement reached with Steward Health Care. The agreement on behalf of the 170 workers includes a 3-percent wage increase, more predict- ability with scheduling, improved over- time and vacation pay, and access to college tuition and training benefits through the 1199SEIU Training & Upgrading Fund, the union announced. The workers include medical assis- tants, receptionists, clerical staff and facility technicians. NATICK — In a performance its chair- man called outstanding, Cognex reported a second-quarter revenue jump of 56 percent and a 41-percent increase in profits. The maker of machine-vision technology such as barcode readers reported revenue of $143.8 million, up from $93.3 million in the second quarter of last year. Meanwhile, net income rose to $43.7 million from $20.5 million. But the company expects lower quarter-to- quarter and year-over-year revenue in the third quarter based on customer feedback, Cognex said in a statement. "We expect to see fewer large orders in the second half of the year," said CEO Robert J. Willett, who cited "slower spending trends" in the Western Hemisphere. WESTBOROUGH — Kopin Corp., which is making a long transition to become a manufacturer of wearable technology components, turned in a REGIONAL BRIEFS >> Continued from previous page REAL DEALS Real Deals highlights recent commercial property transactions in Central Massachusetts. Commercial real estate firms that want to submit information on transactions can send it to editorial@wbjournal.com, or fax it to 508-755-8860. Source: Worcester Registry of Deeds, Town of Webster Assessor's Department ADDRESS: Webster Plaza, 70 and 82 Worcester Rd., Webster AREA: 200,000 sq. ft. SALE PRICE: $8.8 million SELLER: Equity One (Webster) Inc. BUYER: Webster Market Realty LLC (Namdar Realty Group) strong second quarter in revenue growth, along with net income of $781,000, a sharp turnaround follow- ing an $8.9-million net loss in the sec- ond quarter of last year. Kopin report- ed revenue of $10.9 million for the quarter, which ended June 27. That was up from $6.9 million in the second quarter of 2014, or 58 percent. The net income was propped up by $6.2 million in income outside operations, chiefly from its $6-million divestiture of the company's interest in Recon Instruments as part of that company's acquisition by computer chipmaker Intel Corp. MARLBOROUGH — Boston Scientific Corp. has completed its acquisition of American Medical Systems' (AMS) Men's Health and Prostate Health businesses for $1.6 bil- lion. The transaction includes AMS' products for treating male urologic con- ditions, according to Boston Scientific. These technologies complement the company's urology portfolio, enabling further innovation for the company across five common urologic diseases that account for half of all urologic sur- gical procedures, the company said. The AMS women's health business is not part of the transaction. The AMS units will be combined with Boston Scientific's Urology and Women's Health business- es. The joint businesses will become the Boston Scientific Urology and Pelvic Health business. LITTLETON — Mevion Medical >> Continued on next page — Compiled by Sam Bonacci, Worcester Business Journal Staff Writer Webster Plaza is located near the Rhode Island border, just down the road from the intersection of Route 12 and Interstate 395. The property is anchored by a Kmart and contains other stores, including a Family Dollar, Rent-A-Center and a Chinese restaurant. A 55,000-square-foot space that was vacated by Shaw's Supermarket in 2014 remains empty.

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