Plato expects bigger 2Q loss as revenue falls
Shares of Plato Learning dropped 9.7 percent Friday after the provider of computer-based tutoring programs said its second-quarter net loss widened as revenue declined. The net loss in the quarter ended April 30 likely will be between $5.5 million and $6.3 million, Bloomington-based Plato said in a preliminary earnings statement. Plato had a net loss of $3 million a year earlier. Second-quarter revenue fell to between $19 million and $20 million, down from $31.4 million last year. Plato has posted losses for the past five quarters. Chief Executive Officer Mike Morache said the company is introducing products and subscription programs but didn’t reach its expectations this quarter in making those changes. Plato will release final results June 1. Plato shares closed at $8.75, down 94 cents.
Bemis moves headquarters to Wisconsin
Bemis Co., a supplier of flexible packaging and pressure sensitive materials used by food companies and manufacturers, has officially moved its corporate headquarters from Minneapolis to Neenah, Wis. With net sales of $3.5 billion in 2005, Bemis becomes the eighth-largest public company in the state of Wisconsin. Bemis has 11 manufacturing plants and about 3,400 employees in the state. Founded in 1858, Bemis has had operations in Minnesota since 1881.
Red Wing Technologies, a Mendota Heights-based provider of marketing and engineering services, has received a $750,000 grant from the Defense Advanced Research Projects Agency to develop a system that will assist veterans and others in recovery from traumatic brain injury. Teaming with the company to develop the system is the Minneapolis-based Sister Kenny Rehabilitation Institute. ... AGA Medical, Golden Valley, said it has enrolled the first patients in its PRIMA clinical trial, a study examining the connections between certain types of migraine headaches and a heart defect found in more than 20 percent of all adults. The first patients were enrolled at the Swiss Cardiovascular Center in Bern, Switzerland. ... Minneapolis-based Wits Basin Precious Metals said it has received subscription agreements on the exercise of 15 million common stock purchase warrants, from which it said it expects to receive about $3.9 million.
Graco Inc.: William Van Dyke, director, sold 3,000 shares April 25 at $46.87 per share; holds 4,826 shares.
Lawson Software Inc.: Kristin Trecker, vice president, sold 12,193 shares April 26 at $7.50 per share; no further holdings.
MTS Systems Corp.: Linda Whitman, director, sold 3,000 shares April 20 at $44.96-$45.43 per share, option related; holds 8,320 shares. Kathleen Smaby, vice president, sold 7,566 shares May 1-2 at $45.50-$45.55 per share, option related, amended filing; holds 11,429 shares.
U.S. Bancorp: Jennie Carlson, vice president, sold 32,387 shares April 20 at $30.55-$30.58 per share, option related; holds 41,586 shares. Michael Doyle, vice president, sold 8,000 shares April 20 at $30.52-$30.53 per share, option related, and 10,000 shares April 27 at $31.42 per share, option related; holds 39,260 shares. Jerry Grundhofer, chairman, sold 343,672 shares April 20 at $30.50-$30.68 per share, option related; holds 266,169 shares. William Chenevich, officer, sold 60,748 shares April 27 at $30.90 per share, option related; holds 94,479 shares. Lee Mitau, vice president, sold 35,238 shares April 27 at $31.11-$31.14 per share, option related; holds 135,926 shares.
Trading of company stock reported to the Securities and Exchange Commission, according to Bloomberg News; holdings include only common shares owned and do not include stock warrants or options.