Archive for August, 2009

ANNAPOLIS – Annapolis Bancorp reported a net loss of $1,861,000 that includes a provision for credit losses of $3.8 million.  These figures compare to net income of $458,000 and $0.4 million, respectively, for the same period in 2008.  The parent of BankAnnapolis increased its allowance for credit losses to $8,521,000 (3.13% of total gross loans) at June 30, 2009, compared to $4,123,000 (1.54% of total gross loans) at December 31, 2008.  The company also noted that it continues to exceed all federal regulatory requirements for a well-capitalized institution.

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ANNAPOLIS – OpenAmplify, the Semantic Web platform, has introduced TopicIntentions, a feature that can be used by Web advertisers to identify the intentions of people on the social Web. With this advertisers and ad networks can enhance marketing campaigns on user-generated content by capturing the various actions users are considering.

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COLUMBIA – Prism Microsystems has logged more than 10,000 unique downloads of its free log search software, EventTracker PULSE.  Launched in February, EventTracker PULSE automates the real-time collection and long-term archival of all log data from Windows and syslog devices, and helps system administrators search through gigabytes of this data to quickly pinpoint critical data to troubleshoot IT issues, investigate security incidents and conduct forensic analysis.

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ANNAPOLIS – Express Employment Professionals has received notice of its registration as a small business from the U.S. Small Business Administration.  With this credential the company can fulfill prime contractors’ requirements for using small businesses in support of government contracts, as well as help government agencies meet diversity quotas.

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EASTON – Recruiter and career management firm Proticon Career Services will assist laid off or otherwise displaced professionals reengage in the workforce through a state program administered by the Upper Shore Workforce Investment Board.  Through a bidding process, Proticon was one of a few companies selected for the program to help workers in executive, technical, managerial and scientific occupations.

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ANNAPOLIS – TeleCommunication Systems has received patent number 7,574,486 from the U.S. Patent and Trademark Office for its “Web Page Content Translator.”  This allows reformatting of Web content for use on one or more mobile devices.

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ANNAPOLIS – The 220 year-old landmark will hold a ribbon cutting ceremony on Friday, August 14 at 11 am to celebrate the arrival of new tenants Atwaters, Flowers by Donnas, Homestead Market and Maryland Federation of the Arts.  They will join current tenants Vaccaros and BankAnnapolis in the historic downtown business district.

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HANOVER – Chesapeake Science Point Public Charter School is the new tenant at 7321 Parkway Drive South.  Negotiated by Manekin, LLC, the lease gives the school a 41,000 square foot facility where it will provide science, mathematics and technology education for students in grades six through 12.  A grant from Anne Arundel County helped close the deal.

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ANNAPOLIS – George J.W. Lawrence, Jr. is the new head of Annapolis Area Christian School and its three campuses.  With a background at similar schools in the South, he will lead the institution’s 110 staff and 900 students (K-12) in their academic, athletic and fine art programs.

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COLUMBIA – Satellite ground system provider Integral Systems opened the doors to its new 136,000 square foot headquarters and held demonstrations of its product lineup including the flagship EPOCH Integrated Product Suite for satellite command and control.  The LEED Silver building consolidates R&D, the commercial division and other functions from which it will continue to serve government (roughly 70 percent) and corporate customers (30 percent).  Separately, the company reported Q3 2009 revenue of $39.8 million, down 5.6 percent from the same period in 2008.  Operational loss was $3.8 million compared to Q3 2008 operating income of $7.8 million; the decline was attributed to lower product shipments and delayed government procurements.

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