WARWICK – Infinite Group, Inc. announced revenues of $3,338,383 for the quarter ended Sept. 30, 2001 compared with revenues of $3,002,473 for the quarter ended Sept. 30, 2000, or an 11.2 percent increase. Additionally, Infinite reported a net loss from continuing operations of $737,761 for the quarter ended Sept. 30, 2001, or a net loss per share of $0.17, as compared with a net loss of $502,212, or a net loss per share of $0.16 in the prior year period. Increases in aerospace, contract R&D and power generation parts primarily accounted for the net increase in revenues.
Nestor, Inc. reports third quarter decline
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PROVIDENCE – Nestor, Inc. reported revenues of $186,000 for the quarter ended Sept. 30, 2001, a decrease compared to revenues of $569,000 for the same quarter in 2000. The company reported a loss before taxes and loss from investment of $530,000 for the third quarter of 2001, a 34 percent decrease as compared to a loss of $799,000 in for the third quarter of 2000. The company reported net loss for the quarter ended Sept. 30, 2001 of $530,000, $0.02 per share, as compared to a net loss of $1,075,000, $0.06 per share, for the quarter ended Sept. 30, 2000.
MultiCell signs collaborative agreement with Pfizer
WARWICK – Warwick’s MultiCell Technologies Inc., a cellular engineering and research organization, has signed a collaborative research agreement with Pfizer Inc. Specific terms were not disclosed. The company will develop cell-based toxicological and drug screening tests for use by the pharmaceutical industry and others. The agreement with Pfizer involves validation of MultiCell’s liver cells to predict, among other things, the toxicological and therapeutic properties of drug candidates.
Deaf students share post-9-11 thoughts
PROVIDENCE – More than 100 technology leaders from the region’s research, education, and medical communities – in Providence for the first OSHEAN WAVE (Workshop on Applications of Video in Education) – “listened in” as students at Rhode Island School for the Deaf shared their perspectives on life after September 11 with peers at Maine’s Baxter School for the Deaf. The students used new video-over-Internet technology, made available to schools in Rhode Island by the Rhode Island Department of Education and Rhode Island Network for Educational Technology, that enables affordable, remote, real-time broadcast of video images and sound over the OSHEAN network and its Internet2 link.
Citizens Financial selects Watch Hill for IT initiative
PROVIDENCE – Watch Hill Partners, a strategic technology and business process consultancy focusing on customer relationship management (CRM), announced that Citizens Financial Group, a $32.4 billion financial services company, has selected Watch Hill for the primary project management of its program to support branch automation.
The goal of the project is to use new technologies to allow Citizens to develop an increased customer knowledge base; to improve convenience and function in its self-service delivery system; and to provide more relevant information to Citizens’ employees working directly with customers.
Conversent Communications launches backup service
MARLBORO, Mass. – Conversent Communications, LLC, an Integrated Communications Provider, has launched its DSL with Dial-up Backup program in response to high customer demand for disaster recovery services. This new offering allows customers to safeguard mission critical applications without the expense of installing duplicate services. DSL with Dial-up Backup provides high-speed, always on, Internet access over conventional lines, and built-in redundancy through the use of a v.90 Dial-up Internet Access account, which is activated if the DSL connection is broken.
Terra requiring 800 Lycos employees to take time off
WALTHAM, Mass. – Terra Networks SA, owner of the Lycos group of Web sites, is requiring most of its 800 U.S. employees to use five vacation days or take unpaid time off between Christmas and New Year’s.
The Barcelona, Spain-based company is shutting down its U.S. operations in Waltham, Massachusetts, and Mountain View, California, leaving only the “core employees” needed to keep the Web sites running, spokeswoman Kirsten Rankin said in an interview. The core employees will take time off later, she said.
The required absences will reduce expenses at a time when many of the U.S. workers aren’t needed, Rankin said. Terra Chairman Joaquin Agut has been trying to reduce costs as sales of advertising on Terra Lycos Web sites decline.
The company declined to say how much Terra expects to save from the move. Employees were informed last week of the mandatory time off.
(Compiled from news reports and releases, print and electronic.)
