NetMusic Entertainment Corp., which relocated its headquarters from Edmonds to a suburb of Philadelphia earlier this month, announced a radical switch in its business focus. The company, which previously set up digital media Web sites, will now engage in the exploration and mining of precious metals. The company intends to purchase mining claims in British Columbia, according to a statement issued Friday.
Intermec adjusts earnings for 2005
Intermec Inc. of Everett has restated its 2005 earnings after revising the effects of its former industrial division, the company announced in a regulatory filing. The company said it overstated a gain from selling its Landis Grinding Systems business by $2.9 million. With the adjustment, the company’s fourth quarter earnings per share total 65 cents instead of 69 cents. The full-year earnings per share total 98 cents after the adjustment, instead of the previously stated $1.02, according to the company.
Sonus shares rise following good news
Sonus Pharmaceuticals, which reported good progress in developing its experimental cancer drugs on Thursday, saw its shares rise 54 cents, or 9.3 percent, on Friday to reach a 52-week high of $6.34 per share. The Bothell biotech’s stock has risen nearly $4 a share since hitting a 52-week low in April.
Lake Stevens hosts business fair today
The Greater Lake Stevens Chamber of Commerce’s first business fair will be from 10 a.m. to 4 p.m. today at Lake Stevens High School. Local businesses will be represented at the free event, with many offering prize drawings.
Trade panel affirms U.S. lumber tariffs
A special North American trade panel ruled Friday that the United States must continue to apply reduced punitive duties to Canadian lumber imports in a decades-long dispute that has fueled talk of a trade war between the world’s largest trading partners. The decision by the panel, established under the North American Free Trade Agreement, follows a ruling in February by the World Trade Organization that the United States complied with its international obligations in imposing punitive anti-dumping duties on Canadian softwood lumber.
French firm L’Oreal buys out Body Shop
Body Shop International, the British retailer that promotes natural-based cosmetics, said Friday it has agreed to be taken over by L’Oreal of France in a cash deal worth $1.14 billion. L’Oreal said it does not plan to close any stores or cut jobs. Body Shop, with 2,000 stores around the world, was founded 30 years ago in Brighton, England, by Anita and Gordon Roddick.
From Herald staff
and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.