DEBT AND EQUITY Datalink Corp., Chanhassen, revised its guidance for fourth-quarter results to revenue of $48 million and earnings of 5 to 6 cents per share, down from October guidance of revenue of $49 to $53 million and earnings of 8 to 12 cents per share. Datalink will release results for the quarter, which ended Dec. 31, after the market closes Feb. 4.
Digital River Inc., Eden Prairie, announced that the majority of holders of its 1.25 percent convertible senior notes due 2024 exercised their put option to require Digital River to repurchase their notes on Jan. 2. In total, 95.5 percent of the $195 million in notes were repurchased. The put option expired Dec. 31. The purchase price was equal to 100.25 percent of the principal amount of each tendered note, plus accrued and unpaid interest to, but excluding, the purchase date. The purchase price was paid in cash and funded with cash on hand of approximately $187.9 million. Notes with a total principal of $8,805,000 remain outstanding.
Pentair Inc., Golden Valley, approved an increase in the company's quarterly cash dividend to 18 cents per share, effective with the dividend payable in the first quarter of 2009.
MERGERS AND ACQUISITIONS Cretex Companies, Elk River, acquired the assets of Meier Tool & Engineering, Anoka, a manufacturer of miniature and microsized stamped components and subassemblies for the medical, aerospace and defense, and specialty electronics markets.
NEW PRODUCTS Medtronic Inc., Fridley, said Monday it has enrolled its first patient in a clinical trial of its self-expanding Complete SE stent for the treatment of peripheral arterial disease in the superficial femoral artery. The study is a multicenter, single-arm trial with 178 subjects at up to 30 sites globally.
PERSONNEL Virtual Radiologic Corp., Eden Prairie, appointed Mike Kolar vice president, general counsel and secretary.
