CombiMatrix posts higher revenue, losses
Published 9:00 pm Thursday, October 26, 2006
Mukilteo-based CombiMatrix Corp. posted revenue of $1.8 million in the third quarter, up from $1.4 million in the same period last year. Still, the biotechnology company’s net loss for the quarter was nearly $4.3 million, up from $3.9 million last year. Shares of CombiMatrix’s stock have traded below $1 a share lately. Because of that, the company may be required to seek other financing in the next year. Parent corporation Acacia Research warned that it may be necessary to reduce research or lay off people at CombiMatrix as well.
Everett’s Jaco sues over patent
Jaco Environmental Inc. of Everett and SEG Umwelt-Service/Basis of Germany have filed a patent infringement lawsuit in federal court against Appliance Recycling Centers of America. The suit claims that Appliance Recycling Centers is using refrigerator recycling processes invented by SEG and protected by patents exclusively licensed to Jaco, one of the continent’s largest appliances recyclers. The plaintiffs are seeking damages and an order to stop Appliance Recycling Centers from offering its service.
China to buy 150 mid-size Airbus jets
China signed an order Thursday with Airbus for 150 mid-size A320 planes as the European aircraft maker took a major step toward opening its first Chinese assembly line. The Airbus sale was among a series of deals signed as French President Jacques Chirac began a state visit to China.
Exxon Mobil posts near-record profits
Oil industry behemoth Exxon Mobil Corp. said Thursday its third-quarter earnings rose to $10.49 billion, the second-largest quarterly profit ever recorded by a publicly traded U.S. company. The report comes as high crude prices this year have fueled record profits in the oil industry, triggering an outcry from consumers who were being asked to pay about $3 a gallon for gasoline in early August.
Shortest commute is in Montana
Who had the shortest commute in the country last year? The folks in Cascade County, Mont., who take 14 minutes on average to get to work. The longest? Residents of New York City’s Staten Island – an average of 42 minutes, according to the Census Bureau.
Alabama governor wants tanker deal
With a multibillion-dollar aircraft plant for Mobile, Ala., at stake, Republican Gov. Bob Riley on Thursday enlisted U.S. Sen. John McCain’s help in pushing for a “totally open” process in awarding contracts for a new fleet of Air Force refueling tankers. Both the Boeing Co. and Airbus, which has selected Mobile for the site of a tanker assembly plant, are competing for the contract. The Air Force has said that “treaty compliance” is among the criteria that companies must meet to build the estimated 100 planes.
Virgin Atlantic defers Airbus order
Virgin Atlantic Airways will defer the delivery of the first of its six Airbus A380 superjumbo jets until 2013, the company said Thursday, allowing the European aircraft maker to escape the blow that canceling the order would have brought.
From Herald staff
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