Issue of Aug. 21, 2007
MRCC receives national awards
The Mercer Regional Chamber of Commerce, located in Hamilton, announced that the American Chamber of Commerce Executives has presented it with three national awards: The membership achievement award for its 2006 top ten national ranking for new member dollars; the membership achievement award for its 2006 top ten national ranking for number of new members; and an award for communication excellence for it’s rebranding campaign.
The membership achievement awards were determined from data compiled annually in the AACCE’s chamber operations survey. The awards recipients are identified by placing in the top ten for their dues income category in number of new members, new member dollars, or membership retention (dollar value). The Mercer Chamber has held two membership events which brought in close to 350 new members within a 15 month period, in addition to membership recruitment by chamber staff. The communication excellence award was presented for achievements in communication through the Mercer chamber’s re-branding campaign, developed by it’s marketing company, the Mega Group.
New government advocacy firm opens
Michael P. Turner, a veteran public affairs professional, and Hill Wallack LLP attorneys Paul P. Josephson, Maeve E. Cannon and Patrick D. Kennedy announced the formation of Government Process Solutions, LLC. GPS, a full service government advocacy firm, will provide crisis communications, grassroots and press communication strategies and an expanded range of regulatory guidance. The firm’s bipartisan professionals combine over 90 years of experience in government, law and business development to provide solutions to any government problem. The firm will be temporarily located adjacent to Hill Wallack’s West Windsor office until its permanent quarters at 101 South Warren Street, Trenton, are completed in October.
Narrowstep in Indian TV venture
Narrowstep Inc., a Princeton-based company that provides TV over the Internet, recently partnered with Watch India to launch a new Internet TV channel. In the first month, Watch India received 100,000 unique viewers. "Internet TV offers the ideal platform for ethnic programming like Watch India. By removing the geographic limitations of traditional broadcasting, Watch India can offer content to large audiences, around the world," said Todd Narwid, senior vice president at Narrowstep.Watch India’s viewers are able to watch India’s most popular programming including the best of Indian TV and entertainment, breaking news, hit TV series, Bollywood movies, music, entertainment, religion and the latest sports, according to Narrowstep.
Washington Group gets China project
Washington Group International (NYSE: WNG) announced that it has been selected by Nuclear Power Qinshan Joint Venture Co. LTD to provide project management consulting services related to NPQJVC’s nuclear power activities in China. NPQJVC owns and operates two commercial 650-megawatt pressurized water reactors in Zhejiang Province, China. In addition, NPQJVC is constructing two additional 650-megawatt units at the same site.
"As China embraces a nuclear future to satisfy the gap in its power-generating needs, Washington Group International is committed to sharing the expertise that we have retained through more than 40 years in the commercial nuclear industry," said Lou Pardi, president of Washington Group’s Power Business Unit, headquartered in West Windsor.
Integra acquires California company
Plainsboro-based Integra LifeSciences Holdings Corp. (Nasdaq: IART) has agreed to acquire Irvine, Ca.-based IsoTis, Inc. (Nasdaq:ISOT) for $51 million in cash and repaid debt.
Upon closing in the fourth quarter of 2007, IsoTis, Inc. will become a wholly-owned subsidiary of Integra, making Integra one of the largest companies focused on advanced technology in orthobiologics. The combined company will have operations in North America and Europe with more than 2,000 employees, including approximately 300 sales and service professionals and over 500 employees in Europe.Under the terms of the merger agreement, IsoTis shareholders will receive $7.25 in cash for each share of IsoTis common stock.
Integra also reported its financial results for the second quarter ending June 30, 2007. Total revenues in the second quarter of 2007 were $134.8 million, reflecting an increase of $34.6 million, or 35 percent, over the second quarter of 2006. Integra reported net income of $9.3 million, or $0.31 per share, for the second quarter of 2007, compared to net income of $8.0 million, or $0.26 per share, in the second quarter of 2006.
IBM purchases Princeton Softech
IBM announced it will acquire Princeton Softech Inc., a privately held company based in West Windsor that provides data archiving, test data management, data privacy and data classification and discovery software. Terms were not disclosed.
IBM plans to integrate Princeton Softech’s product offerings into its’s software group. Princeton Softech has approximately 240 employees.
Sales training firm moves to area
Total Learning Concepts, a provider of pharmaceutical and biotech sales training, announced it will be relocating its headquarters in January from Boston to Lawrence to be closer to the center of pharmaceutical industry activity. TLC is a Publicis Healthcare Communications Group company. TLC will be located in the same building as its affiliate company, Publicis Selling Solutions.
Two new tenants at Forrestal Village
Silver Shop, which has been located in downtown Princeton for 70 years, has selected Princeton Forrestal Village in Plainsboro, for its latest store location. The retailer specializes in estate silver and other fine jewelry. Exquisite Bride, a new couture bridal salon specializing in the sale of high-end, designer wedding gowns and accessories, has also joined the roster of tenants of Princeton Forrestal Village
New project for KSS firm
KSS Architects, an architectural design firm headquartered in Princeton, with an office in Philadelphia, announced it will be designing a 68,000-square-foot addition and renovation to the Scandling College Center at Hobart and William Smith Colleges.
Tyco reports earnings results
Tyco International, based in West Windsor, announced quarterly earnings from continuing operations before special items rose 10 percent to $277 million, or $0.55 per share, in the third quarter ended on June 29 from $252 million, or $0.49 per share, a year earlier. The results do not include $3.3 billion in charges related to the setting up of a fund for shareholder claims arising from actions by Tyco former chief executive officer Dennis Kozlowski. In June, Tyco completed the spinoff of Tyco Electronics and its health care business, now called Covidien. Revenue from continuing operations, was up 8 percent to $5.1 billion from $4.7 billion reported a year ago. Tyco’s continuing operations include ADT security systems, fire and safety products, as well as valves as industrial controls.
Church & Dwight earnings increase
Princeton-based consumer products company Church & Dwight Co., Inc. (NYSE: CHD) reported net income for the quarter ended June 29, 2007 of $40.5 million or $0.59 per share, an increase of 9 percent over last year’s $36.4 million or $0.54 per share. Net income for the six months ended June 29, 2007 rose to $85.6 million or $1.25 per share, an increase of 10 percent over last year’s $76.4 million or $1.14 per share.
Barrier Thera announces loss
Barrier Therapeutics, Inc. (Nasdaq: BTRX), a Plainsboro-based pharmaceutical company that develops and markets dermatology products reported a net loss for the second quarter of 2007 of $15.7 million, or $0.54 per share, compared to a net loss of $13.9 million, or $0.58 per share, for the second quarter of 2006. Total revenues increased to $4.1 million for the second quarter of 2007 from $1.1 million in the second quarter of 2006.
Pharmacopeia loss decreases
South Brunswick-based pharmaceutical company Pharmacopeia reported a net loss of $6.9 million, or $0.26 per share, for the quarter ended June 30, 2007. The Company recorded a net loss of $7.2 million, or $0.47 per share, for the same quarter in 2006. For the six months ended June 30, 2007, Pharmacopeia recorded a net loss of $16.9 million, or $0.63 per share. Pharmacopeia recorded a net loss of $14.9 million, or $0.98 per share for the 2006 six-month period. Pharmacopeia’s net revenue was $5.0 million for the quarter ended June 30, 2007, compared to $3.3 million for the quarter ended June 30, 2006. For the six months ended June 30, 2007, net revenue was $11.3 million, compared to $7.4 million for the same period in 2006.
UDC net loss widens
Universal Display Corporation (Nasdaq: PANL), based in Ewing, a creator and manufacturer of displays and lighting using its phosphorescent OLED technology, today announced lower results for the second quarter ended June 30, 2007. For the quarter, UDC reported a net loss of $5.2 million or $0.16 per share, versus a net loss of $4.3 million or $0.14 per share for the second quarter of 2006. UDC’s net loss for the six month period was $9.8 million, or $0.30 per share, compared to a net loss of $7.8 million, or $0.26 per share, for the same period in 2006.
Revenues for the three months and six months ended June 30, 2007 were $2.3 million and $5.3 million, respectively, compared to $3 million and $6.3 million for the same periods in 2006.
Orchid Cellmark loss shrinks
Orchid Cellmark Inc. (Nasdaq: ORCH), a Plainsboro-based provider of identity DNA testing services, reported improving financial results for the second quarter of 2007. Orchid Cellmark reported a net loss of $745,000, or $0.03 per share, for the second quarter of 2007, compared to a net loss of $4.2 million, or $0.17 per share, for the second quarter of 2006 and a net loss of $1.7 million, or $0.06 per share, for the first quarter of 2007. Total revenues were $15.7 million for the second quarter of 2007, compared to $13.6 million for the second quarter of 2006, an increase of 16 percent.
Roma Financial stock repurchase
Roma Financial Corporation (Nasdaq GSM: ROMA), the holding company of Hamilton-based Roma Bank, announced that its board of directors has authorized a stock repurchase program pursuant to which the company intends to repurchase up to 10 percent of its outstanding shares (excluding shares held by Roma Financial Corp. MHC, the Company’s mutual holding company), or up to 981,956 shares.
Mercer Insurance announces results
Pennington-based Mercer Insurance Group, Inc. (Nasdaq: MIGP) reported in the quarter ended June 30, 2007, net income of $5.8 million, or $0.92 per share, which represents a $2.9 million increase over the net income of $2.9 million, or $0.47 per share for the same quarter in the previous year. This increase includes a $2.5 million, or $0.39 per share, non-recurring refund.
Revenues for the second quarter of 2007 were $40 million, an increase of $3.1 million over the 2006 second quarter revenue of $36.9 million.

