Company News
Published Sep 21 2001
Ciprico Inc., Plymouth, revised its outlook for the fourth
quarter ending Sept. 30. The company expects revenue of about
$4.5 million to $5.5 million and expects a net loss per share of
78 cents to 85 cents per share, excluding any income tax effects.
Previous expectations were for sales of $8 million and a net loss
of 27 cents per share for the quarter.
The St. Paul Companies, St. Paul, said health care
professionals with medical liability coverage from The St. Paul
Companies, who are called to active full-time duty in the
military reserves, will be offered a coverage "deferment" that
extends the coverage for the length of their service. The
deferment allows medical liability policyholders to defer
coverage until after their service ends. The St. Paul said it will
extend its military leave policy to cover up to 12 months for all
employees who volunteer or are called to active full-time duty
in the military. Previously, the St. Paul's policy provided salary
and benefits for up to two weeks of military leave.
Metris Companies Inc., Minnetonka, and its subsidiary
Direct Merchants Credit Card Bank, announced a program
that offers immediate relief to its credit card customers affected
by the Sept. 11 attacks. The company is offering relief to
customers in areas near New York City and Washington D.C.
Such customers with payment due dates from Sept. 11 to Oct.
11 will not incur late fees because of possible delays in the mail
delivery system.
Norstan Inc., Maple Grove, said ALLTEL Corp. has awarded
Norstan a contract to develop a contact center product designed
to unify ALLTEL's contact center operations. The contract
calls for Norstan to build and implement the product.
Bracknell Corp., Minneapolis, plans a rights offering to raise
$80 million, and the Ontario Teachers' Pension Plan Board has
agreed to buy all rights not otherwise exercised. Bracknell also
said it has entered into a definitive agreement to sell 20 million
common shares to the Ontario Teachers board at $2 a share.
The company said the commitment from the Ontario Teachers
board to buy unexercised rights is subject to the restriction that
the board won't own more than 30 percent of Bracknell's
outstanding shares.
APA Optics Inc., Blaine said its board approved the
repurchase of up to 500,000 of its common shares by Sept. 30.
The company said it might use the repurchased shares for
issuance upon exercise of stock options and warrants.
Hormel Foods Corp., Austin, Minn., said it will donate food
and will assist employees in donating money and blood to aid
relief efforts in New York City.
Allianz Life Insurance Co. of North America, Minneapolis,
announced that it has established a relief fund to help the
victims of the Sept. 11 terrorist attacks.
MedAmicus Inc., Plymouth, has begun shipping its guidewire
introducer safety needle using technology licensed exclusively
from Med-Design Corp.
Regis Corp., Edina, said its quarter-to-date same-store sales
of three percent are on plan.
CIMA Labs Inc., Eden Priarie, said the Food and Drug
Administration has issued U.S. marketing approval for a 5.0 mg
dosage form of Zomig-ZMT (zolmitriptan).
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