ICOS Corp. pared its losses by more than half to less than $23 million, or 35 cents a share, during the second quarter. The company had a loss of nearly $52 million for the same period last year. The Bothell biotechnology firm’s revenue totaled $18.1 million, while operating expenses were $40 million for the second quarter, compared to $34.7 million for last year’s second quarter. The company, which co-markets Cialis, hopes to become profitable as soon as the fourth quarter.
Layoffs are likely at Boeing Wichita
In the wake of the sale of its commercial aircraft operations in Wichita, Kan., Boeing Co. announced Thursday that it is consolidating some support services in its Integrated Defense Systems plant there. The move affects 140 jobs. “Their jobs will be shifted out of Wichita to other locations,” said Boeing spokesman Forrest Gossett. “In all candor, we expect some employees will receive layoff notices.” The support jobs involve computing and network operations, supply chain services, employee staffing and services, and financial services. The work being consolidated did not directly support the Wichita operations, Gossett said.
“Incredibles” sales fall short for Pixar
Pixar Animation Studios reported a lower profit in the second quarter as home video sales of the company’s “The Incredibles” fell short of expectations. Pixar, based in Emeryville, Calif., had net income of $12.7 million, or 10 cents per share, compared to $37.4 million, or 32 cents per share, in the same quarter last year.
Microsoft finds new exec at Sam’s Club
Microsoft Corp. on Thursday said it has named Kevin Turner, former president and chief executive of Sam’s Club, as the software company’s new chief operating officer. Turner, 40, who has also served as chief information officer for Wal-Mart Stores Inc., parent of Sam’s Club, will join Microsoft on Sept. 8.
Burger flippers get paid to study
Students working at some McDonald’s restaurants around the country are getting paid whether they are flipping burgers or flipping through textbooks. At Kathy and Jerry Olinik’s two restaurants about 55 miles west of Detroit, high school and college students will be allowed to stay on the clock for an extra hour before or after their shifts this fall, as long as they spend the time doing schoolwork. “Kids are our future. Anything we can do to support that is the responsible thing to do,” Jerry Olinik says. It is an idea catching on around the nation.
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