Mothers who have jobs are healthier than those who are not employed, at least when their children are very young, a new study finds.
Working mothers in the study were less depressed and reported better overall health than moms who stayed at home with their young children, though this benefit of working did not extend into children’s school years.
Westborough-based technology services provider Virtusa Corp. reported a 30-percent jump in revenue over last year and a 3-percent quarter-to-quarter increase.
In its most recent reporting period, which ended Dec. 31, the company took in $72.2 million, turning a net profit of $5.6 million, which represented a 19-percent jump from its previous quarter, and an even higher 25 percent increase from the third quarter of its previous fiscal cycle.
Virtusa expects its annual revenue to be between $277 million and $279 million, an increase of more than 27 percent from its 2011 revenue.
“Our third-quarter results were solid, particularly in the face of continued volatility in the global economy,” Chairman and CEO Kris Canekeratne said. “We have reached a size and scale that, combined with our industry focus and best in class solution offerings, are enabling us to take on larger transformational programs.”
Last summer, Virtusa expanded by acquiring Alas Consulting LLC, a New York City-based consulting firm that specializes in financial services.
With ground broken this month on construction of a plastic pipe manufacturing facility, Snyder’s new industrial park soon will have its first tenant.
WL Plastics, which has a corporate office in Forth Worth and plants in four states and Canada, could begin operations in Snyder by May, said Bill Lavers, executive director of the Development Corp. of Snyder.
“It’s a brand new facility,” said Lavers, explaining that the plant will start with 33 workers in a 47,000 square-foot building.
“They make HDPE (High Density Polyethylene) pipe for oil and natural gas and potable water and sewer applications,” Lavers said.
Snyder Mayor Terry Martin said plans were under way for a second industrial park for Snyder before WL Plastics decided to open a plant in Snyder.
Lavers said WL Plastics will take up about 20 acres on the 74-acre industrial park site, with the land given to the company as an economic incentive.
In addition, “we paid their first year’s payroll of a $1.5 million,” Lavers said, explaining that the money will be paid in thirds, with the final third not paid until the plant employs at least 41 workers.
About $2 million in public funds also has been spent to provide railroad access to the park, Lavers said.
Martin said rail access “is one of the primary reason that WL Plastics located here.
To motivate investors to reinvest in additional rounds of financing at start-up companies, venture capital deals often include “pay-to-play” provisions. Under these provisions, investors that don’t reinvest have their preferred stock converted to common stock or otherwise made less preferential, VC Experts explains.
According to venture capitalist Brad Feld, pay-to-play provisions were rare in the 1990s. But after the Internet bubble popped in 2001, they became very common. New data show that investors have moved away from pay-to-play provisions in recent years.
The figure below shows data on the share of venture capital deals with pay-to-play provisions taken from the Venture Capital Report produced by law firm Cooley LLP. While the data only cover deals for which Cooley did the legal work, they show the frequency with which VCs are using pay-to-play provisions.
While the trend is imprecise, the pattern is clear. Pay-t
Proventec 300
PROVENTEC, the Liverpool based provider of specialist cleaning technologies, has announced moves to cancel trading of its 10p ordinary shares on AIM .
The Rodney Street-based firm which supplies cleaning equipment for hospitals in the fight against ‘super bugs’ is calling a general meeting of shareholders to seek their approval for the proposal on February 9.
It said it believes the AIM cancellation would be in the best interests of the company and its shareholders.
It added that it intends to maintain the listing of its ordinary shares on the Alternext market, and an AIM cancellation would not affect those listings.
David Chestnutt, Proventec chief executive, said today: “With a significant proportion of the company’s shareholder based in the Eurozone we believe that the current Alternext listing can be used for their future trading purposes.
“This, coupled with the fact that there are significant cost savings to be made from our proposed withdrawal from AIM, lead the board to recommend shareholders of the company vote in favour of the resolution to be proposed at the general meeting.”
Directors estimate it would cost Proventec £140,000 annually to maintain a listing on AIM.