Company News
Published Oct 4 2001
CNS Inc., Bloomington, said it expects to report a profit for
the third quarter ended Sept. 30 and that it will exceed its
third-quarter earnings estimate. CNS previously said it
expected earnings per share of 20 to 25 cents. It now anticipates
earnings of 32 to 37 cents on net sales in the range of $18
million to $19 million.
Ecolab Inc., St. Paul, has lowered its outlook for earnings per
share for the third quarter ended Sept. 30. It now expects t earn
43 to 45 cents per share, compared to the previous estimate of
46 to 48 cents. The company estimates full-year 2001 earnings
per share of $1.45 to $1.50, after previously estimating earnings
of $1.61 to $1.63.
U.S. Bancorp and TCF Financial Corp., Minneapolis, have
lowered their prime lending rates to 5.5 percent from 6 percent.
Wellbridge Corp., Denver, has reached a new management
agreement with the Calhoun Beach Club in Minneapolis and
its new owners, AIMCO Calhoun Club. The agreement will not
result in any immediate changes for the Calhoun Beach Club or
its members.
Famous Dave's of America Inc., Eden Prairie, said
comparable sales increased 2.6 percent for the third quarter,
with total revenue of about $23.1 million. The company also
opened two company-owned restaurants and one franchised
restaurant during the quarter, giving it 37 company-operated
and 13 franchised restaurants.
MGI Pharma Inc., Minnetonka, and Helsinn Healthcare SA,
a privately owned Swiss pharmaceutical group, have completed
patient enrollment for the first Phase 3 trial of palonosetron,
used for the prevention of chemotherapy-induced nausea and
vomiting.
Medtronic Inc., Fridley, announced the first implant of its
Marquis DR Model 7274 implantable cardioverter-defibrillator
(ICD), the initial product in the company's new line of ICDs.
The procedure was done at the State Cardiac Clinic in Athens,
Greece.
Rehabilicare Inc., New Brighton, has launched its
Medi-Compex electro medical product in Italy through its
wholly owned subsidiary, Compex SA. The company plans to
introduce the product into additional European markets in
2002.
Land O'Lakes Inc., Arden Hills, has established a new Fluid
Milk Marketing division.
Cenex Harvest States Cooperatives, Inver Grove Heights,
will acquire Farmland Industries' share of Country Energy,
which supplies rural customers with Cenex-brand energy
products. Terms were not disclosed. Farmland owned 40
percent of Country Energy, which was formed in September
1998.
Northwest Airlines Corp., Eagan, said it would begin offering
nonstop jet service between Minneapolis/St. Paul and South
Bend, Ind. The daily flight, operated by Northwest Airlink
partner Express Airlines I, will begin on Dec. 19. Northwest also
will begin nonstop jet service between Minneapolis/St. Paul and
Wichita, Kan., with two daily flights operated by Express
Airlines I, beginning Dec. 19.
Otter Tail Corp., Fergus Falls, said its Otter Tail Power Co.
unit has begun a two-year business-development study to
investigate adding another generating plant on the site of the
existing Big Stone Plant near Milbank, S.D.
NVE Corp., Eden Prairie, has signed an agreement with
Agilent Technologies Inc., giving Agilent non-exclusive rights
to certain NVE technology, which Agilent will incorporate into
future products. NVE will receive more than $1 million in fees
and advance payments in the first year of the agreement, as
well as future payments based on sales of Agilent products.
Adaytum, Minneapolis, has secured a $3 million licensing
contract with a pharmaceutical firm, which will use Adaytum's
e.Planning EBP product in its research and development
operations.
Medtronic Inc., Fridley, has named Stephen Oesterle senior
vice president of medicine and technology. Oesterle will join the
company in January and succeed Glen Nelson, who will retire in
March. Oesterle currently is associate professor of medicine at
the Harvard University Medical School and director of invasive
cardiology services at Massachusetts General Hospital, Boston.
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