Solar expansionMARLBORO
Solar expansion
b, a company that sells solar power to homeowners and businesses, is expanding in Marlboro.
The company moved its operations in Billerica and Raynham to Marlboro, where it has doubled its warehouse space. SolarCity plans to add at least 25 employees to its workforce of about 33.
“We’re aggressively hiring,” said Ed Steins, SolarCity’s regional director.
Gov. Deval L. Patrick paid a visit to the company to tout his administration’s clean energy agenda. The goal is to bring together environmental interests and economic interests, Mr. Patrick said.
SolarCity, a national company with headquarters in San Mateo, Calif., did not receive state or city tax breaks to open its Marlboro office. But Mr. Steins said the Green Communities Act helps SolarCity do business in Massachusetts.
The company leases solar panels to homeowners and businesses. It will use the Marlboro location, on St. Martin Drive, for sales, engineering, administration and storage of solar panels.
Confidence up
The Associated Industries of Massachusetts said its Business Confidence Index scored above 57 points in April, gaining more than 2 points from March. Confidence was about flat from February to March.
Raymond G. Torto, global chief economist at CB Richard Ellis Group Inc. and chairman of AIM’s Board of Economic Advisors, said the index shows that after an initial rebound, progress has been slow and unsteady. “The economy has returned to health by some standards, but it has not regained its strength by any means,” he said in a news release.
The slow-growth economy is challenging businesses, but employers feel more positive about business conditions in April than they felt a year ago, according to AIM.
Firms remain uneasy about their own situations, which is stunting job growth, according to Richard C. Lord, president and chief executive of AIM.
The index found a gap between confidence among employers in Greater Boston and elsewhere in the state. Employers in the Boston area gained confidence, while confidence among employers outside Boston declined.
Profit boosted
OXFORD — IPG Photonics Corp. yesterday reported that growing sales of its high-power lasers helped boost profit 30 percent in the first quarter.
Profit grew from $23.1 million, or 47 cents per diluted share, in the first three months of 2011 to $29.9 million, or 61 cents per diluted share, in the same period of 2012.
Year-over-year revenue soared 23 percent to $123.2 million. Eighty-four percent of revenue came from sales of lasers for materials processing applications.
IPG said laser sales grew in North America, Europe and China.
“The range of applications for our fiber lasers continues to expand and we plan to capitalize on that growth with our superior technology, reliable and cost-effective products, and volume manufacturing capabilities,” Chief Executive Officer Valentin Gapontsev said in a news release.
IPG is expanding its Oxford headquarters to accommodate its growth.
1st Q profit falls
CHATTANOOGA, Tenn. — Unum Group’s first-quarter profit fell this year after weaker than expected results in the United Kingdom and its closed-block business.
The disability insurer, which has operations in Worcester, said net income dropped to $213.9 million, or 73 cents per diluted share, from $223.6 million, or 71 cents per diluted share, in the first quarter of 2011.
The company repurchased 7.5 million shares during the quarter for $175.2 million, which boosted earnings per share.
Unum’s U.S. division reported higher quarterly revenue.
Also yesterday, Unum said its board of directors voted to increase its quarterly dividend nearly 24 percent.
Gas prices fall
BOSTON — NSTAR’s natural gas prices are falling 36 percent, even lower than previously announced.
The utility said the new price for gas is 30.41 cents per therm, down from 47.67 cents a year ago. The price drop will result in a savings of about $6 a month on the average residential bill.
The new rate, 10 percent lower than NSTAR originally anticipated, reflects the nationwide decline in natural gas prices.
— Priyanka Dayal — Priyanka Dayal — Priyanka Dayal — Priyanka Dayal — Priyanka Dayal
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