A roundup of companies announcing mergers and acquisitions.
Microfluidics International Corp.
Pressure BioSciences boosts Q3 sales, cuts losses
Pressure BioSciences Inc. (NSDQ:PBIO) reported a loss of $693,000, or 26 cents per share, on revenue of $372,000 during the three months ended Sept. 30. That compares with losses of about $776,000, or 35 cents per share, on revenue of $317,427 during the same period last year.
Microfluidics International Corp. (OTC:MFLU) marked its fourth consecutive profitable quarter, posting a 30.1 percent increase to its top line during the three months ended June 30.
The Newton, Mass.-based material-processing tools maker reported net income of $143,000, or 1 cent per diluted share, on sales of $4.5 million for the quarter. That compares with a net loss of $177,000, or 2 cents per diluted share, on sales of $3.5 million during Q2 2009.
Microfluidics International Corp. (OTC:MFLU) logged its third consecutive profitable quarter during the three months ended March 31, posting a 21 percent top-line increase.
The Newton, Mass.-based material-processing tools maker posted net income of $106,000, or 1 cent per share, on sales of $4.3 million during the first quarter. That compares with a net loss of $690,000, or 7 cents per share, on sales of $3.6 million during the same period last year.
Microfluidics International Corp. (OTC:MFLU) named two new members to its board of directors, a former Boston Scientific Corp. (NYSE:BSX) executive and the former CEO of Epichem Inc., now a Sigma Aldrich subsidiary.
The Newton, Mass.-based manufacturer of material-processing tools said it tapped Henry Kay and Stephen Robinson for its board. Kay has a 35-year history in the medical industry, with stints at Schering-Plough, Allergan Europe and American Home Products. His last stop was at Boston Scientific, where he was group vice president for new market development and strategic planning in the endosurgery division. Kay, who retired from BSX in 2006, is the U.S. partner of Medica Venture Partners, a healthcare VC firm based in Israel.
Microfluidics International Corp. (OTC:MFLU) saw sales rise and losses narrow for both the fourth quarter and full year 2009.
The Newton, Mass.-based manufacturer of material-processing tools posted sales of $4.2 million during the three months ended Dec. 31, 2009, up 22.7 percent compared with $3.5 million during the same period in 2008. Microfluidics swung to fourth-quarter profits of $80,000, or 1 cent per share, compared with net losses of $1.7 million, or 17 cents per share, during Q4 2008.
For the full year, revenues were $15.7 million, up 5.8 percent compared with $14.9 million during 2008. Net losses narrowed to $362,000 (3 cents per share) for 2009, compared with $4 million (39 cents per share) during the prior year.
Microfluidics International Corp. is putting its middle name to more use.
The Newton, Mass.-based manufacturer of material-processing tools inked a distribution deal with ATS Scientific Inc., extending its reach across most of Canada. Under the deal, ATS will be the exclusive distributor in Canada of the Microfluidizer processor, which uses fluids to break apart biological materials into uniform particles.