Snohomish County business week in review

Fluke gets $1.4M

The federal government will provide Everett’s Fluke Corp. with $1.4 million to create a tool that will help modernize and regulate energy on the nation’s electrical grid. Fluke, which focuses on providing electronic testing equipment for technicians and engineers, was selected to create a calibration tool that will help standardize evaluation of electricity flows on a smart grid. A smart grid offers better control of electricity and standardizes the flow of energy to help prevent against blackouts and brownouts. The grant comes from the U.S. Commerce Department’s National Institute of Standards and Technology, which doles out research money for projects deemed to be of critical importance to the nation. The project is only partially funded by the federal government; Fluke also plans to invest $360,000 in the technology.

Turning a profit: Everett-based Intermec Inc. earned $6 million during the last quarter after reducing its costs. The company, which sells equipment that use barcode technology, reduced its break-even point from $760 million in revenue in 2008 to about $625 million last year, said Patrick Byrne, company president. “With our lowered break-even point, new products and expanded channel, we are well-positioned for market recovery,” Byrne said.

Home sales strong: Snohomish County home sales increased in January, according to the Northwest Multiple Listing Service. Pending sales rose 42 percent last month and closed deals rose nearly 38 percent, the listing service reported. Low interest rates, continued tax credits for first-time home buyers and move-up buyers, and falling prices were responsible for the increase, agents said. The combined median price for single-family homes and condominiums was $267,995.

Mike Benbow, Herald Writer