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The Sun, Lowell, Mass., Business Briefs Column: June 29, 2005

Posted on: Wednesday, 29 June 2005, 21:00 CDT

CHELMSFORD, Mass. -- MERCURY COMPUTER TEAMS UP WITH IBM: Mercury Computer Systems Inc. announced a key partership yesterday with technology titan IBM Corp. Mercury will integrate IBM's Cell microproccessor technology into such applications as radar, sonar, MRI, CT, digital X-ray, and other uses in the defense, medical and geoscience industries. Cell technology, which hasn't been used outside the gaming industry until now, is capable of 200 billion floating point operations per second and offers dramatic performance upgrades for graphically or computationally intensive applications. Mercury is a publicly-traded company that projects sales of about $245 million for the fiscal year ending June 30.

BEDFORD, Mass. -- INTEQ TO SERVICE ENTERPRISE BANK: InteQ Corp., a provider of remote network monitoring and problem resolution services, said it has landed Enterprise Bank and Trust Co. as a client. InteQ's products and services will monitor, track and manage the mission-critical network, servers and databases that support Lowell-based Enterprise's corporate infrastructure and distributed banking environment. Terms were not disclosed. Founded in 1995, InteQ alos offers training for IT managers. The company claims that its revenues have increased 200 percent in the past two years. Enterprise is the 10th-largest commercial bank in Massachusetts with total assets under management in excess of $1.2 billion.

WESTFORD, Mass. -- NARAD LANDS DEAL WITH CABLEVISION: Narad Networks, which sells cable service-enhancing systems, announced that it has landed a deal to supply New York-based Cablevision Systems Corp. Financial terms were not disclosed. Cablevision is purchasing Narad gear to handle 100-megabit-per-second data transmission services in the Long Island region. The deal represents a forward thrust for the Westford firm, coming just 18 months after an $18 million recapitalization financed by Argo Global Capital in Wakefield. Cablevision will use the equipment to allow large amounts of data to be transmitted between computers using the Ethernet standard.

WILMINGTON, Mass. -- CARDIOTECH REPORTS WIDER LOSS FOR '05: Medical device maker Cardiotech International Inc. posted a wider loss for fiscal 2005, hurt by a one-time charge related to its termination of a proposed acquisition and flat revenue. The company's loss grew 5 percent to $1.6 million (9 cents a share) from $1.5 million (10 cents a share), a year earlier. This year's results include a $333,000 charge related to the termination of the company's proposed acquisition of CarTika Medical Inc. Revenue came in flat at about $21.8 million. The results came in short of analyst expectations, which called for a loss of 7 cents per share on sales of $22.7 million. Cardiotech makes patented polyurethanes and medical devices and does contract manufacturing.

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CTE, CVC, EBTC, IBM, 6680, MRCY,

Source: The Sun (Lowell, Massachusetts)

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