AROUND TOWN: Billion-dollar quarter for Polaris?At least one analyst is projecting a very big number for one of Minnesota’s big manufacturers: $1 billion. “We expect another record quarter,” wrote Well Fargo Securities analyst Timothy Conder on Oct. 7, “with quarterly revenue likely exceeding $1.0B for the first time in the company’s history.”
By: Christopher Bjorke and John Hageman, Grand Forks Herald
At least one analyst is projecting a very big number for one of Minnesota’s big manufacturers: $1 billion.
“We expect another record quarter,” wrote Well Fargo Securities analyst Timothy Conder on Oct. 7, “with quarterly revenue likely exceeding $1.0B for the first time in the company’s history.”
Polaris reported $844.8 million in sales in its most recent quarter, ending June 30.
The Twin Cities-based company is also a major employer in northern Minnesota with its factory, research and development facilities in Roseau, where the company was started.
Conder’s analysis cited successful emerging products with its all-terrain vehicles, side-by-side vehicles and re-launched Indian motorcycle lines, along with established products.
Investors will be able to judge the accuracy of Conder’s analysis when Polaris releases its third-quarter financial results Oct. 22.
REAC to hire director
UND is in the process of hiring its first full-time director of the REAC1 facility.
REAC (Research Enterprise and Commercialization), located at 4201 James Ray Drive, is a center used by companies to develop new products or perform research. Its tenants include the biotech firm Next Healthcare Inc., as well as vaccine developers NovaDigm Therapeutics and Avianax.
LM Wind Power’s research and development department was located at the REAC building but moved out a few months ago.
Michael Moore, UND’s associate vice president of intellectual property commercialization and economic development, said they hope to name a new director in the next two weeks. Linda Hurst-Torgerson is REAC’s current interim director, though she is in the role on a part-time basis, Moore said.
“We’re going to hire a full-timer that’s focused 100 percent of the time on the REAC facility,” Moore said. “This is the first full-timer.
“We want to make sure that we’re putting the proper resources so that the building can be all that it can be.”
Moore estimated that about 60 percent of the 4-year-old building is occupied. He hopes that future demand for space will be high enough to require a waiting list.
“That would be the ultimate goal,” he said.
Young Professionals leader moving on
The Greater Grand Forks Young Professionals organization is looking for a new executive director.
Stacey Dimmler, who has had the job since September 2011, has accepted a job as an events coordinator with Scheels in Grand Forks.
She said she plans to stay with GGFYP until the end of January and help train her replacement, who is expected to be hired by the new year.
“No reason in particular,” Dimmler said about her move, “but I’m ready for a new adventure.”
Dimmler writes an occasional column for the Herald’s business page.
Send business tips to Bjorke at firstname.lastname@example.org and (701) 780-1117 or to Hageman at email@example.com or (701) 780-1244.