Business Services Industry

Massachusetts Tech Sector Leads Resurgence of State Firms.

Knight Ridder/Tribune Business News, May, 2004

By Robert Weisman, The Boston Globe Knight Ridder/Tribune Business News

May 18--After three lean years in the perpetually volatile Massachusetts technology sector, the running of the bulls resumed in 2003.

Software, wireless, and life sciences companies all bounced back smartly from dismal 2002 financial performances -- and the turnaround could be seen in stampeding share prices.

Leading the charge were Arch Wireless, with an increase of 1,161.7 percent, Arrhythmia Research Technology Inc., with a 668.1 percent gain, and Palomar Medical Technologies Inc., which climbed 395.6 percent.

"Companies made a transition last year from retrenching, cost-cutting, and writing things off, to starting to think about entering new markets...

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