The Globe 100
Market value 100
Return on equity 100
Top profit margins
2000 Mass. IPOs
All the charts for
this year's Globe 100
| 2000 Globe 100 |
7. MILLIPORE CORP.
illipore sells high-tech tools and services for two distinctly different business lines: biosciences and semiconductors.
In fact, the Bedford company's ''halves'' are so different there are plans to split it in two, as early as this summer.
A new biosciences company, to be called Mykrolis, will be spun off, with its own stock, as a way to eliminate the management and engineering conflicts between
the two halves and improve the potential for each, the company said.
But last year, in the midst of operating as one company, both of Millipore's units had good years, resulting in record profits of $119.2 million.
Millipore's 2000 profits were among the factors that nudged the company to seventh place on The Globe 100, up from ninth the previous year.
''Usually, one is up while the other is down, but they were both up last year,'' said Francis Lunger, who became president last month.
Sales to Asia Pacific were especially strong last year, the company said. Yet financial success did not eliminate the need for layoffs.
During the first quarter of this year, Millipore laid off 400 of its 5,200 employees worldwide, to prepare for the reorganization. A $31 million restructuring charge sharply reduced first-quarter profits.
Last year, Millipore's biosciences operation benefited from a boom in new-drug approvals by the Food and Drug Administration that boosted demand for its filtration and chromatography systems, which are used in drug research and production.
Demand, Lunger said, ''was much stronger than we anticipated, and it came sooner in the year than we anticipated.''
Demand for Millipore's microelectronics products - components used to control or purify liquids and gases during semiconductor production - was even stronger, pushing up revenue for that division by 70 percent last year.
Lunger is more cautious about this year, because the semiconductor boom has ended, and the entire industry faces a downturn of unknown duration.
''In many ways, it was a phenomenal year,'' he said, adding, ''There's been a pullback.''
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