IN FIRST QUARTERLY REPORT, MINIM SEES $13.7M IN NET REVENUE

Minim, the Manchester-based developer of internet of things software and hardware, reported net revenues of $13.7 million in its first quarterly report as a publicly traded company.

The company, which sells its products under the Motorola brand, said that, for the year, it had $48 million in net revenue, a 28% increase from 2019, which was before Minim’s December 2020 merger with Zoom Telephonics.

The gross profit was reported at $13.6 million.

The fourth-quarter revenue of $13.7 million was 14% higher than the previous quarter, Minim reported.

In a March 9 conference call, Gray Chynoweth, Minim’s CEO, said Minim and Zoom Telephonics have been “smoothly integrated” across departments.

He said that, among the quarter’s highlights, was its launch of software-enabled, Motorola-branded modems that are being sold by Amazon and Target.

Minim was founded in 2017 by Jeremy Hitchcock, founder of Dyn. He is executive chair of the firm, which he said he started “to advance the smart home.” He said the firm’s goal is “to give consumers the same protections on their data that was afforded by big enterprises.”

AMAZON’S HEALTHCARE UNIT EYES NEW HAMPSHIRE

Amazon Care, a subsidiary of Amazon that provides telehealth services, has filed paperwork to operate in 21 more states, including New Hampshire.

Amazon Care was launched a year ago as an app providing on-demand chat and video consultations with medical professionals for Amazon’s employees in the Seattle area. Users can also book inperson visits at their home or office with clinicians. In recent months, Amazon Care has incorporated in New Hampshire as well as Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Iowa, Maine, Maryland, Montana, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont and Wyoming, according to the online publication Stat.

Amazon began exploring the healthcare field in 2017, when it made several high-profile hires from the sector. It also acquired Manchester-based online drugstore PillPack for $753 million in mid- 2018 and in 2019 won approval to allow its voice-activated artificial intelligence, Alexa, to transmit private patient information.

MASS., VERMONT CHALLENGE PAN AM RAILWAYS DEAL

Officials in Massachusetts and Vermont are challenging CSX Transportation’s bid to acquire Pan Am, claiming the transaction will lessen competition among freight carriers in New England while posing risks to commuter service in Massachusetts.

The states have been joined by trade unions and rail shippers as well as state lawmakers and local officials in questioning the deal, which is before the federal Surface Transportation Board.

The New Hampshire Department of Transportation has filed a notice to participate in the proceedings, but has not yet submitted a substantive comment. In New Hampshire, CSX would acquire 121 miles of track divided among five lines owned and operated by Pan Am.

SPRAGUE’S REVENUE TOOK A BIG HIT IN 2020

Portsmouthbased energy supplier and materials handling company Sprague Resources’ sales were off by a third — more than $1 billion — in 2020, but the company’s bottom line improved thanks to the value of its storage operations for the future market and signing a contract to handle windmill components.

The company said the pandemic and warmer weather resulted in dramatically reduced sales as people drove less and there was a huge drop in heating demand, particularly on the commercial side.

Sales for the fourth quarter of 2020 were $627 million, compared to just short of $1 billion during the last quarter in 2019, the company said in its earnings report. Similarly, sales for the entire year totaled $2.3 billion, down from the previous year’s $3.5 billion.

Net income fell for the quarter as well, from $2.5 million (2 cents a share) compared to $11.8 million during the last quarter of the previous year, but for the year, net income rose more than $2.5 million to $33.8 million or $1.11 a share, thanks to the profitability of its storage services.