Briefcase – Nov 14, 2014
CONTRACTS
The U.S. Department of Defense awarded $2 million to Colorado State University’s Biopharmaceutical Manufacturing and Academic Resource Center (BioMARC) to aid in the development and manufacturing of a vaccine for filoviruses, including the Ebola and Marburg viruses. The subcontract was awarded by Battelle Memorial Institute, a research organization that serves the defense department’s Medical Countermeasure Systems Joint Vaccine Acquisition Program.
Comcast and The UPS Store are working together to simplify the process of equipment returns. Comcast’s Xfinity customers can now bring their equipment directly to the nearest The UPS Store location, where it will be processed, packed and shipped back to Comcast, free of charge.
SPONSORED CONTENT
Centerra: inspired by a love of Loveland
In Northern Colorado, most people know Centerra as a place to shop, grab a bite or go to a movie. It’s also a favorite location for corporate offices. And it has gained recognition as the region’s top-selling new-home community.
EARNINGS
Boulder Brands Inc. (Nasdaq: BDBD) posted a net loss of $132.2 million, or $2.17 per share. Revenue of $133.9 million was in line with the previous report. Boulder Brands said it expects revenue of between $575 million to $585 million for 2015 and earnings per share of 25 to 29 cents.
Broadband infrastructure provider Zayo Group Holdings Inc. (NYSE: ZAYO) saw revenue increase by 20 percent in the first quarter of its fiscal year versus last year, although its net loss increased four-fold. The rapidly growing Boulder-based company, which had a lucrative initial public offering last month, reported revenue for the quarter ending Sept. 30 of $320.6 million, up from $268.1 million the previous year. But the rapid growth pace has also helped lead to losses on the bottom line. Zayo reported a net loss of $110.5 million for the first quarter, up from $27.4 million the year before. The quarter ended before the company went public.
DigitalGlobe Inc. (NYSE: DGI), a provider of commercial high-resolution images of earth taken from satellites, reported revenue of $154.6 million for its third quarter that ended Sept. 30. Revenue decreased 6.2 percent compared with $168.4 million during the same period last year. Net income for the third quarter was $900,000 with a net loss of one cent per share. For the third quarter a year ago, the Longmont-based company reported a loss of $1.8 million, or 4 cents per share.
UQM Technologies Inc. (NYSE: UQM), a developer of alternative-energy technologies based east of Longmont in Weld County, reported a decline in revenue and a loss for its second quarter that ended Sept. 30. UQM’s revenue for the quarter was $1.1 million compared with $2 million for the same quarter last year. Net loss for the second quarter was $2 million, or 5 cents per common share, compared with a net loss of $400,000, or 1 cent per share, for the same quarter a year ago.
Corgenix Medical Corp. (OTC: CONX) reported preliminary results for its first fiscal quarter that ended Sept. 30, noting an expected $700,000 drop in revenue compared with the same period a year ago. The Broomfield-based diagnostic test kit maker expects a net loss of $770,000 versus a profit of $84,000 for the same quarter last year. The loss came on $2.2 million in revenue, down from $2.9 million last year.
Ball Corp. (NYSE: BLL) reported a 33 percent increase in earnings per share for the third quarter compared with the same period a year ago. Broomfield-based Ball, a manufacturer of food and beverage packaging, reported net income attributable to the company of $147.4 million, or $1.04 per diluted share, for the quarter that ended Sept. 30. That’s up from $115.2 million, or 78 cents per share, for the third quarter last year, and despite revenue decreasing from $2.3 billion last year to $2.2 billion for the third quarter this year.
Cancer-drug research firm Array BioPharma Inc. (Nasdaq: ARRY) reported decreased revenue and an increased loss for the first quarter of its fiscal year 2015 that ended Sept. 30. Boulder-based Array reported that revenue for the quarter was $6.1 million, a 57 percent decrease compared with $14.2 million for the same period a year earlier. Array reported a net loss of $27.6 million, or 21 cents per share, for the first quarter of fiscal 2015, compared with a net loss of $15.7 million, or 13 cents per share, for the same quarter a year earlier.
Fast-casual restaurant chain Noodles & Co. saw revenue rise but net income decrease in the third quarter ended Sept. 30. Broomfield-based Noodles (Nasdaq: NDLS) reported its third-quarter financials after markets closed, posting revenue of $106.2 million, up 19.4 percent from the third quarter of last year. Net income dipped from $3.3 million, or 11 cents per share, a year ago to $2.9 million, or 10 cents per share.
Level 3 Communications Inc. posted its fourth quarterly profit in a row, while also reporting an increase in revenue and a profit for recently acquired tw telecom inc. Level 3 (NYSE: LVLT), a Broomfield-based telecommunications company, reported revenue of $1.63 billion for the third quarter ended Sept. 30, up from $1.57 billion for the same period a year ago. That came with a profit of $85 million, or diluted earnings per share of 35 cents. Last year the company posted a loss in the third quarter of $21 million or 9 cents per diluted share.
Shoemaker Crocs Inc. reported revenue of $302 million for its third quarter, a 4.8 percent increase compared with $288.5 million for the same period a year ago. Niwot-based Crocs (Nasdaq: Crox) reported income of $15.8 million for the quarter that ended Sept. 30, compared with $13 million for the same quarter last year, or 12 cents per diluted share, down from 15 cents per share.
Chicken producer Pilgrim’s Pride Corp. (Nasdaq: PPC) reported nets sales of $2.3 billion for its third quarter, up from $2.1 billion recorded during the same quarter a year ago. Greeley-based Pilgrim’s Pride recorded net income of $256 million, or 99 cents per share, compared with $160 million and 62 cents per share for the same period a year ago.
Encision Inc. (OTCQB: ECIA), a medical-device manufacturer in Boulder, reported a loss of $414,000, or 4 cents per share, for its second quarter of fiscal year 2015 that ended Sept. 30. It reported quarterly revenue of $2.3 million, down from revenue of $2.6 million for the same period a year ago. The loss was greater than that the loss of $50,000, or 1 cent per share, reported for the same period a year ago.
Danish wind turbine maker Vestas Wind Systems A/S (OMX: VWS) earned $126.8 million during the third quarter, swinging from a $108.2 million loss during the same period a year earlier. Vestas posted revenue of $2.3 billion during the period, up from $1.8 billion during the third quarter of last year. Vestas, which operates two factories in Brighton and one in Windsor, also updated its estimated revenue for this year to $8 billion to $8.7 billion, up from a previous estimate of $7.5 billion.
Clovis Oncology Inc. (Nasdaq: CLVS) reported a net loss of $39.6 million, or $1.17 per share, for its third quarter that ended Sept. 30, as it ramped up studies on two of its top drug candidates. The loss of $39.6 million was greater than its loss of $20.3 million, or 68 cents per share, recorded for the same period a year ago. The Boulder-based developer of cancer drugs did not record revenue for the quarter, but raised $278.3 million from the sale of convertible senior notes. For the first nine months, Clovis had a loss of $105.1 million, or $3.10 per share, compared with a loss of $55.3 million, or $2 per share, for the same period a year ago. Research and development expenses totaled $35 million for the third quarter and $87.6 million for the first nine months, compared with $16.1 million for the third quarter and $44 million for the first nine months of 2013.
Heska Corp. (Nasdaq: HSKA) reported revenue of $21.8 million for its third-quarter that ended Sept. 30, a 24 percent increase compared with $17.6 million generated in the same quarter a year ago. The Loveland-based manufacturer and seller of veterinary diagnostic and specialty products reported net income of $513,000, or 8 cents per diluted share, compared with net income of $241,000 in the third quarter of 2013, or 4 cents per diluted share. As of Sept. 30, Heska had $5.8 million in cash and working capital of $17.7 million. Stockholders’ equity increased to $51.3 million compared to $47.1 million as of Dec. 31.
Boulder-based Dynamic Materials Corp. (Nasdaq: BOOM) reported a 1 percent decline in revenue for its third quarter that ended Sept. 30. Revenue for the quarter was $51.9 million compared with $52.3 million for the same period a year ago. Third quarter profit was $2.5 million, or 18 cents per share, compared with $3.4 million, or 24 cents per share, in the third quarter last year.
Longmont-based data storage equipment manufacturer Dot Hill Systems Corp. (Nasdaq: HILL) reported revenue of $52.1 million for the period ending Sept. 30, down from $52.6 million last year. Net income was $40,000 up from a loss of $78,000 in the second quarter but down from a profit of $1.8 million in the third quarter last year.
Advanced Energy Industries Inc. (Nasdaq: AEIS) earned $12.3 million during the third quarter compared with $700,000 during the same period a year earlier. Fort Collins-based Advanced Energy, which makes solar and power products, posted flat third-quarter sales versus $142.9 million during the same quarter last year.
Synergy Resources Corp. (NYSE MKT: SYRG) earned $10.4 million during the fourth quarter, up from $1 million during the same period a year earlier. Platteville-based Synergy, which produces oil and natural-gas in Weld County, earned $28.9 million during its 2014 fiscal year ended Aug. 31 compared with $9.6 million during the previous fiscal year. For the fourth quarter, Synergy posted revenue of $36.3 million compared with $14.8 million during the fourth quarter of last year. Synergy reported fiscal 2014 revenue of $104.2 million, a record high for the company and up from $46.2 million during fiscal 2013.
KUDOS
Monica Baldwin, president of Longmont-based Main Street Investments Inc., an independent firm, and financial adviser for Raymond James, was awarded the 2014 Woman of Distinction for the Central Region of Raymond James. The award is given to women advisers who are exceptional in both their professional and personal contributions.
Boulder-based IT security firm LogRhythm Inc. was named Tech Company of the Year at the Colorado Technology Association’s annual APEX Awards on Nov. 5, beating out a group of finalists for the award that also included Boulder-based Zayo Group.
Companies in Northern Colorado and Boulder Valley have won awards from the Colorado Cleantech Industries Association for their efforts advancing the clean-technology sector. The Golden-based industry association evaluated the winners’ market strategies, entrepreneurial activity, fundraising for technology development and commercialization efforts, and statewide job creation. Companies were honored at a ceremony in Denver. Noble Energy Inc. (NYSE: NBL) won the Cleantech Corporate Champion award. The Houston-based company produces oil and natural gas in Weld County. Pat Stryker’s Bohemian Cos. in Fort Collins won Cleantech Investor of the Year. Solar developer Clean Energy Collective LLC in Boulder and Broomfield won High Impact Cleantech Company of the Year. The company is developing dozens of solar arrays nationwide, many of them in Front Range cities. Sunil Cherian, founder and chief executive of Spirae, won Colorado Cleantech Entrepreneur of the Year. The Fort Collins-based company offers smart-grid services. Louisville’s Solid Power LLC, a University of Colorado Boulder spinoff that produces rechargeable batteries, was honored as Emerging Cleantech Company of the Year. Boulder’s Clear Comfort, which develops technology to treat pool water, was recognized as the Breakout Cleantech Company of the Year.
Boulder-based Safehouse Progressive Alliance for Nonviolence (SPAN) won the Denver/Boulder Better Business Bureau’s Torch Award for Marketplace Trust on Oct. 30 at the Sheraton Hotel in Denver. SPAN is a human rights organization committed to ending violence against adults, youth, and children.
Louisville-based Solid Power Inc. was named “Emerging Cleantech Company of the Year” by the Colorado Cleantech Industries Association. The awards recognize local companies for their efforts in advancing Colorado’s cleantech ecosystem, increasing jobs and driving innovation in the cleantech sector.
Boulder Ionics, a division of Golden-based Coorstek Specialty Chemicals and the developer and manufacturer of high-performance electrolytes for batteries and ultracapacitors, was named in the 2014 Global Cleantech 100’s Ones to Watch list, produced by Cleantech Group, which works to connect corporates to sustainable innovation through the i3 market intelligence platform, expert consulting services and global events.
Doreen MacDonald received the fourth annual McKee Foundation Philanthropy Award. A founder and leader of the Community Kitchen and a Paul Harris Fellow of Rotary International, MacDonald also is a deacon at Mountain View Presbyterian Church.
The University of Colorado Boulder was ranked second in the world in geosciences by U.S. News & World Report. CU trailed only the California Institute of Technology.
Colorado-based Holland & Hart LLP, which has an office in Boulder, was ranked in the 2015 “Best Law Firms” list by U.S. News & World Report and Best Lawyers® The firm was recognized as National Tier 1 in the practice areas of environmental law, environmental
litigation and technology law.
Wade Hambleton, owner of The Grounds Guys of Boulder, received the Personal Achievement Award from The Grounds Guys corporate during The Dwyer Group International Conference held in September in Orlando, Fla. The Grounds Guys is a franchise specializing in commercial and residential landscape management services.
North Colorado Medical Center in Greeley and McKee Medical Center in Loveland received top “A” grades for patient safety from The Leapfrog Group, an independent industry watchdog that released its Fall 2014 Hospital Safety Score. The score rates how hospitals protect patients from errors, injuries and infections.
Jerry Lee, co-founder and chief executive of Boulder-based running-shoe company Newton Running, was recognized by Goldman Sachs (NYSE:GS) as one of the 100 Most Intriguing Entrepreneurs of 2014 at its Builders + Innovators Summit in Santa Barbara, Calif.
St Julien Hotel and Spa in Boulder was recognized as one of the Best Hotels in the West in Condé Nast Traveler’s 27th annual Readers’ Choice Awards.
The Colorado Photonics Industry Association named GE Lighting (Longmont/Albeo Site) as the 2014 Colorado Photonics Company of the Year.
MERGERS & ACQUISITIONS
Longmont United Hospital, pressured by rising costs and dropping reimbursements, plans to affiliate with Centura Health, becoming the 16th hospital in the state to join the health-care provider. Under the proposed agreement, the hospital would be operated and managed by Centura in exchange for a long-term commitment of capital and resources. Hospital assets, such as real estate and equipment, would be merged into Centura Health. The agreement is expected to take effect in the first half of next year pending legal and financial reviews. Financial terms of the deal were not disclosed. The hospital’s union with Centura will not immediately affect employment at either organization. Englewood-based Centura has 15 hospitals, including Avista Adventist Hospital in Louisville; and six senior-living communities.
Aurora-based University of Colorado Health signed a letter of intent to purchase Longmont Clinic. Terms of the deal were not disclosed. Longmont Clinic physicians, at their board meeting Oct. 27, voted overwhelmingly to join UCHealth and sign the letter of intent. Both Longmont Clinic and its satellite office, Carbon Valley Medical Center, are likely to keep their names, with UCHealth worked into the names or logos somehow. The deal came as a surprise to Longmont United Hospital officials, who had been in discussions to purchase Longmont Clinic for the past two or three years.
Bank of Colorado signed an agreement to acquire MontroseBank and its six branches.
Financial details of the transaction were not disclosed. Fort Collins-based Bank of Colorado will add the Montrose-based bank’s branches in Montrose, Cedaredge, Delta, Hotchiss and Paonia to its 37-branch network that includes Fort Collins, Loveland, Estes Park, Windsor and Greeley. MontroseBank has total assets of $234 million. Bank of Colorado, a $2.6 billion financial institution, is a subsidiary of family-owned Pinnacle Bancorp, an $8 billion financial holding company that operates 130 community banks in eight states.
Fort Collins-based Greystone Technology Group Inc. completed the acquisition of Ability To Inc., also a Colorado based technology service provider.
Louisville-based health-care software company Global Healthcare Exchange (GHX) LLC., has entered into an agreement to acquire Atlanta-based Vendormate, which provides vendor-relationship management software and serves as a bridge between health-care providers and suppliers. Financial terms of the deal were not disclosed.
Revolv Inc., a Boulder-based maker of a hardware hub that coupled with an app can let smart-home devices talk with each other, was acquired by Google’s Nest Labs in California. Financial details of the acquisition were not disclosed.
MOVES
Von’s Colorado Concepts is moving to a new office at 3445 Penrose Place in Boulder, to accommodate its new undertaking in Longmont’s Shadow Grass Park subdivision. VCC will build about 54 single-family homes in Shadow Grass in the next few years.
Surfside 7, a bar and pizza establishment at 150 N. College Ave. in Fort Collins, will move to for former site of the East Coast bar at 238 Linden St. by early 2015.
Teleost Biopharmaceutical, a company based on an invention developed at the University of Arizona to help prevent skin cancer, is moving its headquarters from Boulder to Tucson, Ariz., to partner long-term with the original UA inventors of the technology.
OPENINGS
1175 Lee Hill, a 31-unit apartment complex for chronically homeless people opened to residents on Nov. 4 in Boulder, run by Boulder Housing Partners. The two-story, multifamily apartment building has 31 one-bedroom, fully-furnished units. The $7.6 million development was designed by Denver-based Hmphries Poli Architects, the general contractor was Boulder-based Deneuve Construction. Funding was provided by the city of Boulder, Boulder County, the Colorado Division of Housing, Colorado Housing and Finance Authority, the Metro Denver Homeless Initiative, the National Equity Fund and U.S. Department of Housing and Urban Development.
Dunkin’ Donuts, part of a doughnut-and-coffee chain, opened at 2801 S. College Ave. in Fort Collins on Oct. 28.
Terry Gold and his partners opened Launch Longmont, a co-working space in the Longmont Times-Call building at Fourth Avenue and Terry Street in Longmont that eventually will morph into an incubator and accelerator as well.
Good Day Pharmacy opened a Good Day Breast Care Center on Oct. 30 in the Spring Creek Medical Park, 2001 S. Shields St., Building D, Fort Collins. The center is staffed by two Amoena-certified fitters that will assist patients with bras and mastectomy forms as well as scarves, hats, and other apparel needed when going through breast cancer treatment, breast cancer surgery, and other breast surgeries. Other featured products are essential oils, supplements, ambulatory aids and skin-care products.
Pediatric Urgent Care of Northern Colorado officially will open and begin seeing patients Jan. 5 at 1214 Oak Park Drive, Fort Collins. PUNC will be the only pediatric-specific urgent-care facility in all of Northern Colorado. While initially leasing space from The Youth Clinic’s South Fort Collins location, PUNC is in the process of purchasing land to build its own stand-alone facility.
