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Waters Corp. swims against the stream

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Waters Corp. swam against the stream during the first quarter, posting a 7.1 percent earnings increase despite a 10.4 percent dive in revenues.

The Milford-based lab equipment maker posted sales of $333.1 million, compared with $371.7 million during the same period last year; net income reached $73.4 million, compared with $68.5 million during the first quarter of 2008.

Waters chairman, president and CEO Douglas Berthiaume attributed the positive earnings to careful cost control and strong demand for recurring revenue product lines.

UPDATE: InVivo Therapeutics to use $500k Mass Life Sciences loan on new manufacturing facility, possibly in Lowell

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The Massachusetts Life Sciences Center doled out seven so-called “accelerator” loans totaling $3.4 million to local, early-stage life science firms and the medical device industry fared well, landing five of the ignition loans.

The loans, of up to $500,000, are designed to augment the existing $5.8 million in financing the young companies have already landed. Eighty-eight companies applied to the program.

Luis Barros, the center’s senior vice president of investment and industry development, told MassDevice the loans are especially important for early-stage firms that haven’t raised much capital.

Local luminaries make good on the national scene

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Some local luminaries are making good on the national stage.

First there’s Dr. Paula Johnson, who was one of five physicians named to the National Institutes of Health‘s Advisory Committee on Research on Women’s Health. Johnson is the executive director of the Connors Center for Women’s Health and Gender Biology and chief of the Women’s Health division at Brigham and Women’s Hospital and associate professor of medicine at Harvard Medical School.

Aspect Medical Systems rides international sales to Q1 profit

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Strong international sales helped Aspect Medical Systems Inc. boost revenues 4 percent and pushed the company into the black during the first quarter of 2009.

The Norwood-based brain-monitoring equipment maker posted revenues of $25.3 million for the three-month period ended March 31, compared to $24.4 million for the same period last year.

That pushed the company into the black. Aspect reported net income of $1.9 million, compared to a $235,000 loss during the first quarter of 2009.

LeMaitre Vascular’s sales slow, but Q1 losses narrow

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LeMaitre Vascular shrugged off slower sales during the first three months of 2009 to narrow its net loss, but restructuring charges kept the company out of the black.

The Burlington-based company, which makes a wide array of products and implants for vascular disease, said sales fell slightly during the first quarter, reaching $11.4 million compared with $11.8 million during the same period last year — a 4 percent slip.

Will CDC tap Inverness for rapid tests of Swine Flu?

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There were a couple of big questions buzzing around the MassDevice bullpen today.

When will the Centers for Disease Control reveal which rapid influenza test it will authorize to diagnose the ever-escalating number of swine flu cases?

And will the makers of that test be one of our own?

The Wall Street Journal reported late yesterday that federal regulators issued orders allowing the emergency use of anti-viral drugs and rapid tests, some of which are not yet approved by the Food and Drug Administration, to combat the escalating swine flu outbreak.

UPDATE: Insulet hits the road in Europe after landing EU approval for its OmniPod insulin system

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MassDevice caught Rob Campbell, Insulet Corp.‘s vice president of clinical research, on his way to dinner in Paris after a day spent lining up a distribution deal for the company’s flagship OmniPod insulin management system.

European Union regulators gave the nod for the device to hit the market there, meaning the Bedford-based diabetes device maker is cleared to start selling the OmniPod in countries that recognize the EU’s CE Mark.

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