BUSINESS BRIEFS
Mera Pharmaceuticals posts profit
Advertiser Staff
Mera Pharmaceuticals Inc., a Kailua, Kona marine biotechnology company, swung to a profit in its latest quarter as it increased its revenue and benefited from a refundable tax credit.
The company reported net income of $7,521 in the quarter ended July 31. That compared with a loss of $83,923 in the May-July quarter a year earlier.
Mera, in a filing at the U.S. Securities and Exchange Commission, reported revenue rose almost 32 percent to $173,098, helped by an increase in sales of its Astaxanthin supplement that it says has antioxidant and anti-inflammatory properties.
Revenue also increase as it sold a sea-salt product and signed an agreement with HR BioPetroleum, a firm researching production of fuel from algae. Mera said the contract represented about 56 percent of its revenue.
The company's shares closed trading yesterday at seven-tenths of a cent.
SYNGENTA SETTLES WITH EPA FOR $17K
The U.S. Environmental Protection Agency said it has reached a $17,550 agreement with Syngenta Seeds Inc. over alleged violations of federal pesticide regulations at its Kaua'i operation.
The EPA alleged pesticide worker protection violations in Kekaha, including failing to store all personal protective equipment separately from clothing and apart from pesticide contaminated areas.
The settlement was part of three separate administrative complaints totaling $284,050 in civil penalties with Syngenta Crop Protection Inc. and Syngenta Seeds for violations of the federal Insecticide, Fungicide and Rodenticide Act.
ALOHA AIR CARGO INSTALLS 'HUSH KITS'
Aloha Air Cargo said it has finished installing "hush kits" on fleet of airplanes in an move to reduce noise emissions and meet Federal Aviation Administration regulations.
The company installed the noise suppressors in the aircraft engines despite carrying an exemption to federal noise law since 2001.
"Retrofitting our planes with hush kits improves the atmosphere for Aloha Air Cargo employees, as well as for our neighbors that live or work near the airports that we serve," said Michael Coffman, chief operating officer for the company.
The majority of transport and operations at Aloha Air Cargo take place during the late evening and early morning hours.
Aloha Air Cargo was acquired in May by Saltchuk Resources, which also owns shipping company Young Brothers Ltd.
HOKU INVITED FOR N.Y. PRESENTATION
Hoku Scientific Inc., a Kapolei-based technology company, is among renewable energy companies that have been invited to make presentations at Cowen & Co.'s second-annual Clean Energy Conference in New York City.
Hoku Chief Executive Officer Dustin Shindo is to address investors and analysts for the event today at the Le Parker Meridien Hotel in New York City. Hoku's business includes solar power installation. It is building a plant in Idaho that will produce polysilicon material used in photovoltaic panels.
STATE GETS HELP TO PUSH CLEAN ENERGY
The state of Hawai'i has received a $500,000 grant from the U.S. Department of Energy as part of the federal agency's program to encourage clean energy.
The Hawai'i grant applies to policy work for grid infrastructure on O'ahu using innovative demand-side management, electrical storage, smart grid technologies and electrical transmission and delivery technologies.
