Business Digest November 8, 2013
Attorneys Chris Leh and his father, Jim Leh, launched the Leh Law Group LLC at 12303 Airport Way, Suite 200, in the Mountain View Corporate Center in Broomfield. Chris Leh is an employment lawyer who has represented local and national employers for more than 20 years. Jim Leh is a former Thirteenth Judicial District chief judge. The law firm will represent employers in employment-related litigation, provide preventive workplace advice to employers and executives, represent businesses in commercial disputes and serve as neutrals in mediations and arbitrations. Phone is 303-327-1415.
CES Rockies, an administrative management firm, opened an office at 1900 South Sunset St., Suite 1F, in Longmont. Fifty employees will occupy 15,772 square feet of space where they will handle accounts receivable and payable, and payroll for several subsidiaries of Superior Energy Services that works in the oil and gas industry.
Denver-based Security Pursuit opened a satellite office at 375 McCaslin Blvd. in Louisville. The company provides information technology risk-analysis and testing services for businesses and governments. Its Forensic Pursuit division provides investigations, preventative forensics and e-discovery services to attorneys and businesses’ legal counsel to help with collection and analysis of digital evidence. Two full-time employees will man the 500-square-foot space.
FirstNet, an agency created by Congress to oversee a national emergency communications network, will locate its technical headquarters in Boulder. FirstNet is an independent entity of the National Telecommunications and Information Administration, which shares a campus with the National Institute of Standards and Technology in Boulder. No lease agreement has been signed for the technical headquarters site yet.
Life coach and author Scott Armstrong and his wife, Sarah Armstrong, launched AboutBoulder.com. The goal is to make the website a treasure trove of information about Boulder County, with contact pages for every business and links to everything from local gas prices to happy hour listings and real estate brokers. They started AboutBoulder.com after Steve Holmes – the developer for QuadCities.com as well as Armstrong’s other websites – pitched the idea to them.
Boulder Brands Inc. (Nasdaq: BDBD) has moved its corporate headquarters from 7102 La Vista Place in Niwot to 1600 Pearl St. in Boulder. The company is occupying the third floor of the building, which has approximately 18,000 square feet of office space. Approximately 60 employees will work in Boulder. Full-time employees at the office in Boulder will be offered EcoPasses. Boulder Brands has 700 employees in the United States, Canada and the United Kingdom.
Ball Metal Food Container Co., a division of Broomfield-based Ball Corp. (NYSE: BLL), is owed $46.3 million by a vegetable-canning company in Arkansas that filed for Chapter 11 bankruptcy. Allens Inc. in Siloam Springs, Arkansas, said it would continue to operate as usual during the bankruptcy process. Allens Inc. claims to be at least $100 million in debt with 3,627 customers, according to federal bankruptcy court documents.
Biotech Biodesix Inc. raised $4.01 million from 21 investors, according to a filing made with the U.S. Securities and Exchange Commission. Boulder-based Biodesix makes diagnostic tests that help doctors make treatment decisions. In April, Biodesix raised $8.8 million to market and sell its VeriStrat diagnostic test, which is used to help treat patients with advanced non-small-cell lung cancer.
The city of Lafayette installed two electric-vehicle charging stations Oct. 25, one at city hall and another at the Bob L. Burger Recreation Center. The city’s first EV charging station is at the Lafayette Public Library. The two new stations cost a combined $14,000. Eighty percent of that cost was covered by the Charge Ahead Colorado grant program, a joint effort of the Regional Air Quality Council and the Colorado Energy Office. The Charge Ahead Colorado program funded 37 public electric-vehicle stations in April, bringing the state’s total number of public charging stations to 116. The other 20 percent of Lafayette’s station cost was paid for by the city’s Lafayette Energy Sustainability Advisory Committee. The city covers the cost of the electricity to make the stations free for public use.
RGS Energy, the commercial and utility division of Louisville-based Real Goods Solar Inc., (Nasdaq: RSOL), and St. Albans Solar Partners LLC completed a 2.2 megawatt solar farm in Vermont. It is expected to generate approximately 3.1 million kilowatt hours annually, enough energy to power more than 400 homes.
Boulder-based NeoMedia Technologies Inc. (OTCQB:NEOM), a pioneer of global mobile barcode management products, reported record operating income of $440,000 for its third quarter that ended Sept. 30 compared with a $579,000 operating loss for the same period a year ago. NeoMedia’s revenue increased by approximately 136 percent from the same quarter a year ago. But the company reported an overall net loss of $26.2 million for the quarter as compared to net income of $19.5 million for the same period a year ago. The company said the loss reflects the application of financial instrument fair value accounting and certain other nonoperational results. Net operating income does not include deductions for income taxes or financial expenses, but those deductions are included in profit or loss figures.
Niwot-based shoe manufacturer and retailer Crocs Inc.(Nasdaq: CROX) reported third-quarter net income of $13 million, down 71 percent from $45.1 million for the same period a year ago in an earnings report that reflected the quarter ending Sept. 30. Revenue for the quarter was $288.5 million, down from $295.6 million a year ago and down from $363.8 million in the second quarter of this year. Price per dilute share was 15 cents for the quarter, down from 49 cents per share for the same quarter last year.
Broomfield-based telecom Level 3 Communications Inc. (NYSE: LVLT) reported third-quarter revenue of $1.569 billion and a net loss of $21 million, or 9 cents per share. The revenue marked a decrease of $21 million from the same period a year ago, but a slight uptick of $4 million compared with the second quarter of this year. The net loss was down significantly from the $166 million the company lost in the third quarter a year ago. This year’s third-quarter loss included $30 million in severance charges. The company announced in August that it was laying off 700 employees worldwide, including 150 locally. The operator of global fiber-optic networks employs about 2,700 in Broomfield.
Longmont-based DigitalGlobe Inc. (NYSE: DGI) reported $164.8 million in revenue for the third quarter that ended Sept. 30, a 54 percent increase from the same period a year ago. The satellite imaging company, however, posted a third-quarter net loss of $1.8 million and a net loss available to common shareholders of $2.8 million, which included $1 million of preferred stock dividends, or 4 cents per diluted share. The revenue mark was up from $150.6 million for the second quarter of this year. Included in the quarter’s performance was $11.1 million of restructuring and integration expenses related to last year’s acquisition of GeoEye.
Boulder-based Array BioPharma Inc. (Nasdaq: ARRY) reported revenue of $14.2 million for its quarter ending Sept. 30, about 10 percent less than the $15.8 million reported for the same quarter a year earlier. Net loss for the quarter was $15.7 million, compared with a net loss of $11.8 million for the same quarter a year earlier. Company representatives said the cost of partnered programs with other pharmaceutical companies increased to $10.7 million for the quarter, compared with $6.5 million for the same period a year earlier.
Boulder-based drug-research firm Clovis Oncology Inc. (Nasdaq: CLVS) reported a net loss of $20.3 million for its most recent quarter ending Sept. 30. The loss was a 10.5 percent increase from the $18.3 million net loss reported for the same quarter a year earlier. Clovis reported $356.6 million in cash and 30.2 million outstanding shares of common stock at the end of the quarter. The company used $47.9 million to fund operations for the first nine months of the year. It expects to spend about $66 million to fund operations for 2013.
Longmont-based Dot Hill Systems Corp. (Nasdaq: HILL), a provider of SAN storage solutions, entered into an original equipment manufacturing agreement with Teradata (NYSE: TDC), a provider of analytic data platforms, applications and services. Teradata will incorporate the Dot Hill AssuredSAN 4000 Series midrange storage systems into certain Teradata data warehousing and big data analytics appliances. Also, C7 Data Centers selected Dot Hill’s AssuredSAN Pro 5000 Series 100 terabyte offering for its private cloud configuration that provides cloud-based redundancy for physical and virtual production environments.
Broomfield-based Webroot Inc., a provider of cloud-based security products, will partner with Mountain View, California-based NetCitadel Inc., a provider of cyber-threat management products, to deliver security intelligence and threat context to enterprises facing sophisticated security attacks. NetCitadel will embed Webroot IP Reputation Service into its threat-management platform, providing data such as intellectual property reputation, threat type and geo-location data for security incidents.
Louisville Koglin Group LLC signed a contract with NCR/Radiant Systems to install point of sales equipment in 16 Wendy’s restaurants in Detroit, Michigan.
MERGERS & ACQUISITIONS
Boulder-based Ramblin Jackson, a web marketing and video production company, acquired Boulder-based Trumpet Local Media, a search engine optimization firm.
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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.