May 16, 2014

Briefcase – May 16, 2014

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BRIEFS

Boulder-based MBio Diagnostics Inc. was awarded a patent for improved analyte detection, to be used with its LightDeck planar waveguide technology.

Broomfield-based Noodles & Company (Nasdaq: NDLS), opened its first Massachusetts location in the White City Shopping Center in Shrewsbury with established franchisee operator Hamra Enterprises.

The Colorado Enterprise Fund has reached the $1 million mark in dispersing loans to small businesses in Boulder. In partnership with the city of Boulder, Boulder Economic Council and area banks, CEF helped launch the Boulder Microloan Fund in 2009 with $325,000 in loan capital to attract and retain small businesses in Boulder during the recession. To date, more than $1 million has been loaned to 39 small businesses representing a range of industries from service and retail to light manufacturing and wholesale food production. CEF will celebrate its milestone at a BMF-client restaurant on Wednesday, May 14, in Boulder. Featured speakers will include Liz Hanson from the city’s Economic Vitality Office, Sharon King from the Boulder Small Business Development Center and Ceyl Prinster, president and chief executive of CEF.

CONTRACTS

Public accounting and professional services firm EKS&H, with an office in Boulder, partnered with London based investment firm Fitzgerald & Law to provide complementary services designed to help support companies expanding into the United Kingdom or United States markets by providing access to experts who can advise on all aspects of setting up and operating a business on either side of “the pond.”

Longmont-based UQM Technologies Inc. (NYSE: UQM) and Derindere Motorlu Araclar, based in Turkey, signed a memorandum of understanding, making UQM the supplier of electric propulsion systems to DMA for its fully electric light commercial vehicle production.

Calgary, Alberta-based Encana Oil and Gas Inc. (NYSE: ECA) (TSX: ECA) will pay $3.1 billion for acreage in the Eagle Ford shale formation in south Texas. Encana, which drills natural-gas wells around Erie and has an office in Denver, will buy 45,500 acres in three counties from Freeport-McMoRan. The acreage produced 53,000 barrels of oil equivalent per day during the first quarter.

Broomfield-based Level 3 Communications Inc. (NYSE: LVLT) will connect Digital Realty Trust Inc. (NYSE: DLR) customers in 14 major markets in the United Stated and Europe to its growing cloud ecosystem that includes Amazon Web Services (AWS Direct Connect) and Microsoft Azure (ExpressRoute). As a result of this relationship, Digital Realty customers will gain the ability to migrate and operate business-critical applications in a hybrid cloud environment that delivers greater performance, security and flexibility.

Boulder-based community solar developer Clean Energy Collective signed an agreement with Louisville-based RGS Energy (Nasdaq:RGSE) to act as an authorized reseller of its community solar solution. The agreement allows RGS Energy, maker of turnkey solar-energy solutions for residential, commercial and utility customers, to expand its reach to provide solar products to customers who rent or lease their property or are otherwise unable to install onsite systems because of site orientation, shading or restrictions imposed on historic properties. RGS will leverage its marketing and sales channels to target both residential and commercial customers to participate in CEC’s Western Massachusetts Community Solar Array in Hadley, Mass. and Southeastern Massachusetts Community Solar Array in Rehoboth, Mass.

Ball Aerospace & Technologies Corp. was been awarded a $23.9 million contract to build the Stalker, a sensor system that will help the U.S. Navy protect its ships from hostile threats. The contract is through the NATO Seasparrow Project Office in Washington, D.C., and includes options for up to $10 million of additional work that could include spare system components, field support and engineering. Boulder-based Ball Aerospace will build the system based on a prototype it has developed. It will test the system and install it on certain ships.

EARNINGS

Data-storage equipment manufacturer Dot Hill Systems Corp. reported a 9 percent increase in revenue for its first quarter that ended March 31. Longmont-based Dot Hill (Nasdaq: HLL) reported revenue of $48.2 million for the first quarter, compared with $44.5 million for the same period a year ago. The company reported a net loss of $400,000, or 4 cents per diluted share, for the quarter, compared with a net loss of $1 million, or 2 cents per diluted share, for the same quarter a year ago.

Clovis Oncology Inc., a biopharma developing drugs for cancer patients, reported a net loss of $30.7 million for its first quarter that ended March 31. Boulder-based Clovis (Nasdaq: CLVS) had a net loss for the first quarter last year of $15.7 million. The increase in the loss for the first quarter of this year is due primarily to expanded development activities for the CO-1686 and rucaparib drug programs as Clovis initiated additional clinical studies in both programs, the company said. As of March 31, Clovis had $303.7 million in cash and cash equivalents and 33.9 million outstanding shares of common stock. The company continues to expect cash burn for 2014 will total approximately $120 million and to end the year with approximately $200 million in cash.

Heska Corp. (Nasdaq: HSKA), a Loveland-based provider of diagnostic and other specialty veterinary products, reported a 9.6 percent increase in revenue for its first quarter that ended March 31. Heska reported revenue of $20.8 million for the quarter, compared with $19 million in the first quarter of 2013. The company reported net income of $192,000, or 3 cents per diluted share, compared with a net loss of $386,000 in the first quarter of 2013, or a loss of 7 cents per diluted share. Heska completed the quarter with $6.2 million in cash, $1.1 million in short-term debt and $17.6 million in working capital.

Louisville-based lifestyle media and fitness accessories company Gaiam Inc. reported first-quarter revenue of $37.6 million and a net loss of $2.1 million, or 9 cents per share. The revenue marked a 2.5 percent increase compared with the same period in 2013, not counting revenue last year from Gaiam’s discontinued operations. The company last fall sold its entertainment media distribution operations and shuttered its direct response television marketing operations.

Bandwidth infrastructure provider Zayo Group LLC reported $278 million in revenue for its third fiscal quarter that ended March 31, up nearly 10 percent from the same period a year ago. The Boulder-based company recorded a third-quarter net loss of $43.7 million, up from a loss of $18 million during the same quarter a year ago. Zayo, founded in 2007, is not a publicly traded company, but has hinted that it is exploring the possibility of an initial public offering within the next two years.

Advanced Energy Industries Inc. (Nasdaq: AEIS) said its earnings rose to $14.7 million during the first quarter vs. $6.8 million during the same period a year earlier. Advanced Energy, headquartered in Fort Collins, makes solar and thin-films products. Company revenue rose to $141.9 million from $111.8 million. First-quarter earnings fell, however, from the $34.4 million in net income posted during the fourth quarter.

WhiteWave Foods Co., an organic food and beverage producer, reported a 36 percent increase in revenue for its first quarter that ended March 31. Broomfield-based WhiteWave (NYSE: WWAV) reported revenue of $830 million for the quarter compared with $608 million for the same period a year ago. The company posted income of $32.4 million, or 19 cents per diluted share, for the quarter compared with $24 million, 14 cents per diluted share, for the same period a year ago.

Dynamic Materials Corp. (Nasdaq: BOOM) posted revenue of $48 million for the first quarter ended March 31, up from $46.3 million a year ago thanks to gains in its Oilfield Products segment. The Boulder-based manufacturer also realized a net income of $1.6 million, or 12 cents per share, compared with a profit of just $215,000 for the same period last year. Revenue in the Oilfield Products segment increased to $23.5 million compared with $20.1 million a year ago. Its income from operations increased from $1.4 million to $3.6 million.

Level 3 Communications Inc. (NYSE: LVLT) posted its second quarterly profit in a row after nearly five years of consecutive quarterly losses. The Broomfield-based telecommunications company posted net income of $112 million for the first quarter ending March 31 compared with a net loss of $78 million for the same period a year ago. The profit amounted to diluted earnings per share of 47 cents. The first-quarter gain was an increase from Level 3’s fourth-quarter 2013 profit of $14 million, which was the company’s first profit since the final quarter of 2008.

Satellite-imagery company DigitalGlobe Inc. (NYSE: DGI) announced a 23 percent bump in first-quarter revenue as well as the planned resignation of chief financial officer Yancey Spruill. Spruill will step down Oct. 1, but will continue in his role in the meantime and assist with the search for his replacement. Longmont-based DigitalGlobe reported revenue of $156.5 million for the quarter ending March 31, up from $127.6 million a year ago. Last year’s figure did not include January revenue for GeoEye, a competitor acquired by DigitalGlobe. Despite the revenue gains, DigitalGlobe reported a net loss of $600,000, or 1 cent per diluted share. But that was a major improvement compared with a loss of $61.2 million for the first quarter a year ago.

Anadarko Petroleum Corp. (NYSE: APC) reported a $2.7 billion loss during the first quarter, down from the $460 million it earned during the same quarter last year. Anadarko, one of the largest oil producers in Weld County, blamed the loss on a $5.15 billion lawsuit settlement related to pollution caused by spinoff Tronox Ltd. Anadarko also reported a $946 million gain from selling a portion of its offshore drilling interests in Mozambique. Anadarko also said it achieved record daily sales volumes of 819,000 barrels of oil equivalent per day during the quarter. The Woodlands, Texas-based company posted $5.8 billion in revenue vs. $3.9 billion during the first quarter of 2013.

Boulder Brands Inc., a natural foods company, reported a 15.2 percent increase in revenue for its first quarter that ended March 31. Boulder-based Boulder Brands (Nasdaq: BDBD) recorded first-quarter revenue of $122.9 million, compared with revenue of $106.7 million for the same period a year ago. Income for the quarter was $412,000, or 1 cent per diluted share, compared with $3.9 million, or 6 cents per diluted share, for the same quarter a year ago.

Ball Corp.’s first-quarter profit leaped nearly 30 percent this year when compared with the same period a year ago, according to the company’s earnings report. Net income for Broomfield-based Ball (NYSE: BLL) was $93.5 million, or 65 cents per diluted share, for the quarter ending March 31. That’s compared to $72 million for the same timeframe a year ago. Revenue for the quarter was $2 billion, just a few million more than a year ago. Ball manufactures packaging for the food, beverage and household products industries, and also has an aerospace division based in Boulder.

Shoemaker Crocs Inc. (Nasdaq: CROX) saw first-quarter revenue decline by nearly 78 percent versus the same period a year ago, according to its most recent earnings report. The Niwot-based company’s results came despite revenue ticking upward slightly to $312.4 million and falling in line with expectations.

FLOOD RELIEF

California Route, an organic lager that is a collaboration between Fort Collins-based New Belgium Brewing and Boulder-based Patagonia Inc., raised $23,055 for the United Way Long-Term Recovery Fund for Larimer County Floods..

KUDOS

Dan Richmond, an American Family Insurance agent in Fort Collins, received the company’s American Star Excellence in Customer Experience Certification, which recognizes agents evaluated through customer satisfaction surveys measuring overall client experience. Richmond, who has worked for the company since 1986, runs an office at 923 E. Prospect Road.

Former University of Colorado athletic director Bill Marolt received a recognition award from SnowSports Industries America for his 50 years of contributions as a snow sports athlete, coach and leader, including serving as chief executive of the U.S. Ski and Snowboard Association.  Marolt, who retired after the 2014 Winter Olympics in Sochi, Russia, left infrastructure legacies such as the USSA Cener of Excellence in Park City, Utah, and the U.S. Ski Team Speed Center at Copper Mountain. A member of the U.S. Ski and Snowboard Hall of Fame, Marolt remains active in the International Ski Federation and the U.S. Olympic Committee. He was elected by his peers to the USOC Board of Directors in 2012 as a representative of National Governing Bodies, where he continues to serve.

Four companies took home awards for exceptional ethics at the Better Business Bureau of Northern Colorado and Wyoming’s 16th annual Torch Awards April 30 in Fort Collins. Capitol Roofing and Exteriors, based in Cheyenne, Wyo.; Microbial Research Inc., headquartered in Fort Collins; Mountain West Farm Bureau Mutual Insurance Co. out of Laramie, Wyo.; and SteamMaster Restoration and Cleaning, based in Minturn, all were honored with Torch Awards. In addition, The Egg & I restaurants in Fort Collins and Loveland and Kersey-based Centennial Ag Supply Co. received job-site safety awards.

The Referral Link, developed by Fort Collins-based Innotrieve Inc., was selected as a semifinalist for the 2014 Recruiting Service Innovation Awards, which recognize ground-breaking sourcing and recruiting products and services that help employers’ recruiting efforts.

Boulder-based Spectra Logic received the “Technology Connect Select Partner of the Year” award from EMC for its support of EMC data-protection solutions.

Paul A. Caylor, a Fort Collins-based financial consultant with Thrivent Financial who has worked with the company for 16 years, qualified among 640 representatives to attend the organization’s Peak Performers conference as a Sierra Level qualifier. He will be recognized by his peers during an annual conference in Chicago.

The San Diego Unified School District solar project, developed and owned by Boulder-based Main Street Power Co. Inc., received an honorable mention in the inaugural Novogradac Journal of Tax Credits’ Renewable Energy Power Awards at the Financing Renewable Energy Conference in San Francisco. The project received the honorable mention in the “Overcoming Obstacles” category as an example of how Main Street Power made use of innovative tax credit solutions to finance the 31-site solar project.

Fort Collins-based Drahota general contracting and construction management received the 2014 general contractor of the year award in the $10 million to $50 million category from the American Subcontractors Association of Colorado.

Lafayette-based The Creative Alliance won a 2014 Communicator Award from the Academy of Interactive and Visual Arts for packaging for four varieties of artisan confections designed for its client Indulgent Confections.

Fort Collins-based Brannen Design and Construction Inc. and Boulder-based KGA Studio Architects won a silver award for best architectural design of a one-of-a-kind home from the National Association of Home Builders during NAHB’s annual International Builders’ Show in Las Vegas. The custom-built Old Tuscan Villa-style home is situated on a bluff facing the mountains and overlooking the golf course at Harmony Club in Timnath.

The Boulder Chamber will honor six women and a high school student on June 5 at the 19th annual Women Who Light the Community awards dinner. Honorees are: Dr. Joanne Belknap, a professor of sociology at the University of Colorado-Boulder and a board member of FOCUS Re-Entry, a Boulder nonprofit that helps offenders being released from the Boulder County jail to avoid recidivating and achieve eventual self-sufficiency; Kim Riether Coupounas, director of B Lab Colorado; Bay Roberts and Patty Gilbert, co-founders of One School at a Time; Dr. Deirdre Pilch, deputy superintendent of the Boulder Valley School District; Nederland community leader Janette Keene; and “Emerging Young Leader” Nikola Yager, active in the Youth Global Leadership Program. Also to be honored are three local leaders who stepped up during the 2013 flood crisis: Jamestown mayor Tara Schoedinger, Lyons town administrator Victoria Simonsen and former Lyons mayor Julie Van Domelen. Registration information is available online at boulderchamber.com for the event, which will be held from 3:30 to 6:30 p.m. at the Lionsgate Event Center Gate House in Lafayette.

Fort Collins-based WildRock Public Relations and Marketing won a Silver Pick Award in the Media Relations Campaign – Consumer Technology category from the Public Relations Society of America’s Colorado chapter at a ceremony in Denver. WildRock was recognized for an equity-raising media relations push on behalf of Aleph Objects Inc., a Loveland-based 3-D printer company.

Fort Collins-based A-Train Marketing received two Silver Communicator Awards from the International Academy of Visual Arts for custom infographics created for a client. The company’s “Safety in the Saddle” bike information graphic and “Zombie Fit 2” earned the awards.

MERGERS & ACQUISITIONS

Scott Fliegelman sold 10-year-old Boulder-based FastForward Sports to Tim O’Brien on April 30. Financial terms of the sale were not disclosed. FastFoward provides coaching services to runners and triathletes. O’Brien, a longtime runner and entrepreneur, does not plan to make drastic changes to the operation in the short term but plans to offer group training for youths and onsite training for employees of businesses. Contact O’Brien at 303-440-1975 or tim@fasforwardsports.net.

MOVES

Signarama Fort Collins moved to a larger suite at 1600 E. Mulberry Ave. in Fort Collins to accommodate a growing staff and additional print equipment.

Boulder-based technology public relations and digital marketing agency Metzger Associates moved its headquarters to 2503 Walnut St. and changed its name to Metzger Albee Public Relations.

Fort Collins-based Gentle Strength Massage moved from Academy Court to 311 E. Mulberry St. Owner Erin Maranjian has maintained a private practice in Fort Collins for more than 15 years. During the past 12 years she also has been on the staff of Longmont United Hospital.

The Eclectic Reader, selling used, out-of-print and rare books, opened at a new location, 1119 W. Drake St., Unit C, in the Cimarron Plaza in Fort Collins. It had closed its store at 1031 S. Taft Hill Road last year.

NAME CHANGES

Mile High Banks will get a new name, following a rebranding effort by its holding company, Strategic Growth Bancorp. In addition to Mile High, sister banks First National Bank of Santa Fe and Bank of the Rio Grande will also become part of the First National Family of Banks. Specifically, Mile High Banks will be called First National Denver. Strategic Growth Bancorp has changed its name to First National Bancorp. Together, the three banks have $1.7 billion in assets and 25 branches in Colorado and New Mexico. Mile High Banks was acquired by Strategic Growth Bancorp in January 2013.

OPENINGS

Colorado State University’s $18.5 million Engines & Energy Conversion Lab opened April 17. Formerly the city of Fort Collins’ power plant, the building was constructed in 1936. A portion of the 4.2-acre site was a municipal landfill in the early 1900s. The four-story expansion and retrofit project brought the 24,000-square-foot building to 100,000 square feet. Loveland-based real estate developer McWhinney retained Fort Collins-based commercial real estate inspection firm National Inspection Services to conduct environmental site assessment.

What We Love, The Winery will host its grand opening from 1 to 6 p.m. Saturday, May 17, at 1501 Lee Hill Drive, Unit 14, in Boulder, next to Upslope Brewing Co. The winery launched its debut product, Decadent Saint Mulled Wine, in December, and will introduce its reserve chardonnay, Sonoma sauvignon blanc, a to-be-determined red wine and a sangria at the opening.

The Crooked Cocktail opened at 128 S. College Ave. in Fort Collins at the site of Gelazzi, a gelato shop that closed after seven years. Gabe Armstrong, owner of The Crooked Cup coffee shop, 147 W. Oak St., bought Gelazzi in November.

Front Range Community College opened an Advanced Technology Center at its Boulder County campus in Longmont and expanded its Precision Machining Program to include a daytime credit-granting, certificate-bearing program and the addition of courses to its noncredit evening program.

PRODUCT UPDATE

Boulder Insight, a certified Tableau consultant and reseller, revamped its website at boulderinsight.com. The new site provides quick and intuitive access to all the company’s services and solutions, industry best practices, client endorsements and access to a free Tableau product trial.

Boulder-based JumpCloud, developer of an automated server-management tool, announced the ability to automate the execution of server-management tasks and workflows. DevOps and IT professionals previously had to manually execute tasks or painstakingly write scripts that would execute across their server infrastructure. JumpCloud now automates executing commands and scripts across a group of servers on a scheduled or ad hoc basis from the cloud. Further, according to the company, all executed tasks are fully visible, auditable, and logged reducing single points of failure.

SERVICES

TedxFront Range, in its third year at the Rialto Theater Center in Loveland, introduced “Your TEDxFrontRange.” an opportunity for anyone to share a TEDx-style message with the world. Contributors can upload a video of themselves giving a TEDx-style talk or presentation, which will be reviewed and uploaded to a website. One video may be selected and shown at the upcoming TEDxFrontRange event on May 22. Nearly any topic is welcome, but no commercials, pseudoscience, religion or politics. More information at tedxfrontrange.com or facebook.com/TEDxFrontRange. TEDxFrontRange is supported by FrontRange Initiatives, a Colorado nonprofit corporation.

The University of Colorado launched CU-Boulder Crowdfunding, a site where students, faculty and staff can raise money for the ideas and projects they’re working on. Crowdfunding has become popular in recent years for entrepreneurs as a way to gain early capital for their inventions or new products by sourcing a large number of people online. The initial pilot of CU’s website, colorado.edu/crowdfunding, will initially have eight projects for the 30- to 45-day funding period. The site will give supporters a platform for following the progress of projects and donating. All of the funds will be used for the projects and related expenses. The site will not provide revenue for university operations.

Categories: Briefcase Print Edition Boulder County Business Hall of Fame
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