Business digest

OPENINGS
Jacksonville, Florida-based EverCheck, a provider of professional license monitoring verification software for the health-care industry, opened an office at The Impact Hub, 1877 Broadway in Boulder.

Co-owners Jennifer Love Walter and Morgan Elizabeth Dalton opened Aime’s Love Bakery at 331 Main St. in downtown Longmont. The bakery will feature gluten-free muffins, cupcakes and cakes. The café also will feature other sweets, coffee drinks and fruit smoothies.

BRIEFS
Boulder-based Doc Popcorn International Inc., a franchisor of PopKiosks that serve fresh-popped, natural-flavored popcorn, has opened its first location in Puerto Rico. The new shop is located at Plaza Rio Hondo in Bayamon. Franchisees Angel Diaz and Miriam Rosado along with their business partners Jorge Marcano and Alicia Fernandez plan to open a three Doc Popcorn units in Puerto Rico over the next few years.

The American Association of Gynecologic Laparoscopists and the Surgical Review Corp. designated Longmont United Hospital as a Center of Excellence in Minimally Invasive Gynocology. Dr. Brian Nelson is director of the hospital’s center. It is recognized for having surgeons and facilities that demonstrate a commitment and consistent ability to deliver safe, effective, evidence-based care.

Two Rivers Foods in Lyons received $160,000 in funding and loans to buy equipment and to expand its business making and selling SolBites single-serving, cracker-and-spread, snack packs.
The company received $100,000 from new and previous investors, according to a press statement. The company also received a $60,000 loan from Whole Foods Market (Nasdaq: WFM) in Austin, Texas.

EARNINGS
Boulder-based Encision Inc. (ECIA:PK), a medical-device manufacturer, posted revenue of $2.7 million and net income of $33,000 for the quarter ended Dec. 31.The company’s revenue for the most recent quarter was a 10.5 percent decrease from the $3.05 million in revenue posted for the same period a year ago. Encision posted a net loss of $82,000 for the quarter ended Dec. 31, 2012. In December, Encision raised about $2 million through a private placement of 2.5 million shares of stock.The funds will be used to support marketing and sales of the AEM Endoshield device.

Broomfield-based Ball Corp. (NYSE: BLL), a can manufacturer, reported fourth-quarter income of $124.5 million, more than double the $60.6 million for the same period a year ago. For fiscal year 2013, which ended Dec. 31, Ball’s total income was $406.8 million on revenue of $8.5 billion. That’s compared with income of $403.5 million on revenue of $8.7 billion. Ball’s fourth-quarter revenue was $2 billion, down from $2.1 billion for the same period the previous year. Diluted earnings per share increased from 39 cents in the fourth quarter of 2012 to 85 cents for the fourth quarter of 2013. Total 2013 earnings per share were $2.73, up from $2.55.

Boulder-based Array BioPharma Inc. Array (Nasdaq: ARRY) reported revenue of $14.1 million for the most recent quarter, a 24 percent decrease from the $18.4 million in revenue reported for the same quarter in 2012. The company also reported a net loss of $16.4 million for the quarter ended Dec. 31, or 13 cents per share, compared to a net loss of $10.9 million, or 10 cents per share, for the same period a year earlier. Array develops and commercializes research drug candidates that are used to treat patients who have cancer.

Broomfield-based Level 3 Communications Inc. (NYSE: LVLT) reported its first quarterly profit since the end of 2008. Level 3’s revenue for the fourth quarter of 2013 declined by a few million dollars from the same period a year earlier to about $1.6 billion. But the company reported a fourth-quarter profit of $14 million, an improvement of $70 million compared with 2012’s fourth-quarter loss of $56 million. Level 3, an operator of global fiber-optic networks, had posted quarterly losses for 19 quarters in a row dating back to a profit for the fourth quarter of 2008. The fourth quarter of 2008 then marked the company’s first profit in six years. Fourth quarter 2013 revenue was up $33 million from the third quarter, when the company reported a loss of $21 million. Despite the positive fourth quarter, Level 3 still posted a loss of $109 million, or 49 cents per share, for the year on total revenue of $6.3 billion. But that loss was about a quarter of 2012’s loss of $422 million on $6.4 billion in revenue.

Boulder-based Zayo Group LLC, a provider of bandwidth infrastructure, reported revenue of $273.6 million for the company’s second fiscal quarter ending Dec. 31. The revenue marked an increase of $28.3 million compared with the same period a year ago. But net loss also increased, from $34.2 million to $36.3 million. The net loss, which increased by $8.4 million compared with the previous quarter, was related to a $14 million jump in stock-based compensation expense. Zayo Group has grown rapidly, acquiring several fiber-networking companies, and there has been speculation recently that Zayo could be primed for an initial public offering sometime this year.

CONTRACTS
Broomfield-based Oxlo Systems Inc. was hired to provide auto dealer software application integration services to an auto manufacturer in Canada. The software will link the manufacturer’s front- and back-office operations. Oxlo, headed by chief executive Gene Brothers, owns and operates the Open Dealer Integration Network for the automotive industry.

Verde Brand Communications, a full-service brand communications firm with offices in Boulder, Durango and Jackson, Wyoming, was hired by cycling apparel company Moxie Cycling Co. in New Hope, Minnesota.
Louisville-based Real Goods Solar Inc., which recently rebranded as RGS Energy, has formed a joint venture with Altus Power America Management that will mean the development of up to $150 million in new commercial solar projects. RGS Energy builds, designs and installs solar projects for both commercial and residential customers. Altus, based in Old Greenwich, Connecticut, invests in and manages solar projects. The new venture formed by the pair is dubbed RGS Energy Asset Management LLC. RGS Energy Asset Management will own and manage the projects financed by Altus and built by RGS.

MERGERS & ACQUISITIONS
Financial services and insurance firm Professional Financial Specialists Inc. acquired the insurance agency Bliley Insurance Group LLC. Financial terms of the transaction were not disclosed. The two Boulder-based companies combined forces under the Professional Financial Specialists Inc. name in its office at 4735 Walnut St. John Bliley, founder of Bliley Insurance, will continue to work for the combined firm as a consultant, said Regan Turner, president and founder of Professional Financial Specialists. Bliley’s two support staff moved to the office on Walnut Street.

SERVICES
Glutino launched The Glutino Gluten Free Gurus, a program to guide people through the facets of gluten-free living, available online at Glutino.com. Glutino is a division of GFA Brands Inc., a company owned by Boulder-based Boulder Brands Inc. (Nasdaq: BDBD).

Deadline to submit items for Business Digest is three weeks prior to publication of each biweekly issue. Mail to Editor, Boulder County Business Report, 3180 Sterling Circle, Suite 201, Boulder, CO 80301-2338; fax to 303-440-8954; or email to news@bcbr.com with Business Digest in the subject line. Photos submitted will not be returned.

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