Company News
Published Oct 2 2001
ValueVision Media, Eden Prairie, said the Sept. 11 terrorist
attacks had a short-term effect on its third-quarter revenue
and earnings. New customer orders during Sept. 11 to 17 were
down 21 percent compared with the previous year, but
rebounded to increase an average of 22 percent during Sept. 18
to 30. Its ShopNBC network did not broadcast from 9 a.m.,
Sept. 11, until 6 a.m., Sept. 12.
Polaris Industries Inc., Plymouth, said it continues to expect
that its earnings per share for the third quarter ended Sept. 30,
will be $1.35 to $1.40, up 9 to 13 percent from the previous
year's third quarter earnings of $1.24. The company expects to
release third-quarter results Oct. 16.
Sheldahl Inc., Northfield, said it will lay off 30 of its 427
employees in its Materials and Flex Interconnect division in
Northfield. The layoffs follow the company's announcement
that it will reduce the size of that division in Endicott, N.Y., and
Longmont, Colo.
Shallbetter Industries Inc., Minneapolis, said it has
withdrawn from a letter of intent to acquire all of the issued
and outstanding shares of SBN.Com and Superior Business
Networks Inc., Irvine, Calif.
Medtronic Inc., Fridley, announced the market release
outside the United States of the Attain OTW Model 4193
left-heart lead for delivery of cardiac resynchronization
therapy. Medtronic also announced the U.S. and European
launch of the Colvin-Galloway Future band, a surgical product
adapted to assist in the surgical repair of the heart's mitral
valve.
Active IQ Technologies Inc., Minnetonka, has authorized
the purchase of up to 500,000 of its common shares.
Advanced Medical Electronics Corp., Fridley, has received a
$100,000 grant from the National Heart, Lung and Blood
Institute to develop an infrared augmented reality viewing
system that surgeons can wear. The company also got a
$100,000 grant from the National Cancer Institute to
demonstrate the feasibility of applying infrared imaging
technology on the distal tip of a flexible endoscope.
NaviCare Systems, White Bear Lake, said the Cleveland
Clinic Foundation has licensed and installed Navicare's
Dynamic Workflow Management product in its Perioperative
Services department.
Varistar Corp., Fargo, N.D., a wholly owned subsidiary of
Otter Tail Corp., Fergus Falls, has acquired St. George Steel
Fabrication Inc., of St. George, Utah, for an undisclosed
number of shares of Otter Tail Corp. common stock.
Digital River Inc., Eden Prairie, has acquired substantially all
of the assets and liabilities of Orbit Commerce Inc., an
e-business services platform provider, and the assets of
RegSoft.com Inc., an e-commerce services company. To
acquire Orbit, Digital River will exchange $964,000 and about
728,000 shares of Digital River common stock. Digital River
acquired RegSoft.com for $750,000 in cash and a note for $2.5
million that is payable in full on Feb. 2. Both agreements allow
for an earnout based on the companies' performance.
RegSoft.com will operate as a separate entity.
Fargo Electronics Inc., Eden Prairie, has entered into
partnerships with three access control companies: Northern
Computers Inc., Milwaukee; Casi-Rusco, Boca Raton, Fla.; and
Checkpoint Systems Inc., Thorofare, N.J. Fargo will provide its
card printer/encoders to Northern on an original equipment
manufacturer basis. Casi-Rusco and Checkpoint will
incorporate Fargo card printer/encoders into their access
control offerings.
Stellent Inc., Eden Prairie, formerly IntraNet Solutions, has
formed a partnership with Interknack, under which Interknack
will market the Stellent Content Management system to
enterprise customers in the United States.
Fargo Electrics Inc., Eden Prairie, has received U.S. patents
covering its identification card output stacker and card
laminator, and three notices of allowance from the U.S. Patent
and Trademark Office for other mechanisms.
Magnum Technologies Inc., Minneapolis, said it has closed
on a $3 million private offering of its Series B convertible
preferred stock. The financing was lead by Space Center
Ventures, a Twin Cities-based early stage venture capital firm
and also included as investors Hitachi Ltd. of Tokyo, StarTec
Investments, Bloomington; Holland Capital Group, Eden
Prairie; Portage Equity Investments, Wayzata, as well as
members of management and other individuals. Magnum
Technologies plans to use the funds to support sales and
marketing, fund ongoing working capital, and fuel the
integration of Magnum's software with other products.
MQSoftware, Golden Valley, said Blue Cross Blue Shield of
Tennessee, Chattanooga, has licensed MQSoftware's Q Pasa!
for MQSeries management software.
© Copyright 2001 Star Tribune. All rights reserved. |
