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The Bay State's Best

The Bay State's BestAt least six companies with ties to Tufts rank among the Boston Globe’s listings of Massachusetts’ top publicly held companies. Boston.

Boston [05.21.03] From the producers of cutting-edge medical scanning equipment to the makers of baby grand pianos, members of the Tufts community are leading some of Massachusetts' top companies. In its annual ranking of the Bay State's leading publicly held companies, The Boston Globe ranked at least six companies with Tufts connections among the state's best, including No. 1-ranked Analogic, run by Tufts Trustee Bernard Gordon, and No. 4-ranked Charles River Laboratories, founded by Tufts Trustee Emeritus Henry Foster.

"Analogic, a venerable firm that manufactures hundreds of costly CT scanning and mammography machines each year, has never had an unprofitable quarter in its history," reported the Globe.

The company's strong growth in 2002, coupled with its vision for the future, helped Analogic earn the Globe's 2003 "Company of the Year" honors.

"This recognition was earned by the extraordinary efforts of our employees, who are engaged in a broad spectrum of activity, from developing the world's most advanced explosive detection systems to high performance digital radiography and Computed Tomography (CT) systems for niche medical applications," Gordon - a Tufts Trustee who made the largest gift to Tufts in the University's history - said in a statement to the media.

In 2000, Gordon's Peabody-based company joined forces with Lockheed to win a government contract to produce the next generation of luggage screening machines, resulting in a dramatic boost in business over the last year.

"The company's revenues climbed to $153.4 million in its fiscal second quarter this year, which ended Jan. 31, from $66.4 million in the same quarter last year," reported the Globe. "For the same period, net income jumped to $21.2 million, or $1.39 per share, from $605,000, or 5 cents per share."

If passed, new legislation currently under consideration by the United States Senate could fuel Analogic's continued growth.

"Analogic is considered by some to be the leading candidate to produce a new antimissile defense system for all U.S. passenger jets," reported the Globe. "A measure introduced in the U.S. Senate in February would mandate federal funding to equip all 6,800 passenger jets in the country with the systems, at an estimated cost of between $7 billion and $10 billion."

Also among the Globe's top five is Charles River Laboratories -- a Wilmington based biotech company founded by Tufts Trustee Emeritus Henry Foster.

"In a year rife with financial hardships for biotechnology companies, Charles River had a year many would envy, building its traditional focus on laboratory animals and expanding its offerings in nonanimal tests and services for drug research," reported the Globe.

The Chairman of the Board of Overseers for Tufts' School of Veterinary Medicine, Foster founded the company more than 50 years ago.

And Charles River shows no signs of slowing down.

"In 2002, its revenues grew by almost 20 percent, and its profits by nearly 60 percent," reported the Globe.

Charles River Laboratories and Analogic weren't the only companies with ties to Tufts to fare well in the Globe's rankings.

Raytheon - the Lexington-based company founded by two Tufts graduates and best known for producing Tomahawk cruise missiles and the Patriot missile defense system - was ranked as the Bay State's top company for sales.

"Raytheon's sales of $16.8 billion made it the largest company headquartered in Massachusetts," reported the Globe.

The company - whose chief financial officer is Tufts graduate Edward Pliner - also ranked as the second-largest employer headquartered in Massachusetts with 76,400 employees and the fifth-largest company in terms of market value with $11.6 billion in revenues.

Hopkinton-based EMC Corporation - led in part by Tufts graduate and Vice President and Treasurer Irina Simmons - ranked just ahead of Raytheon in the same category. With a market value of more than $15 billion, EMC ranked as the fourth largest in Massachusetts, according to the Globe.

EMC is no stranger to the Globe's annual rankings.

In 1994 and 1995, EMC was ranked by the newspaper as the state's top company - the first to earn the No. 1 spot for two straight years.

Cambridge-based Genzyme, led in part by Tufts graduate and Genzyme executive Mara Aspinall, ranked 11th in market value with $7.8 billion in revenue and 24th overall among the Globe's list of the state's top companies.

Also, Steinway Musical Instruments - headed by Tufts graduate and CEO Dana Messina - ranked 50th overall in the Globe's rankings and 61st for sales with more than $330 million in revenues last year.

 

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