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In Business This Week
A MORE SHIPSHAPE KENDALL SQUARE
Bill Koch, who once skippered a winning entry in the America's Cup race, will now attempt to pilot supercomputer hopeful Kendall Square Research off the rocks. The company's largest stockholder, Koch took the helm as temporary CEO on Dec. 1, after Kendall Square announced a sweeping restatement of 1992 and 1993 earnings and demoted CEO Henry Burkhardt III to president. Kendall Square also admitted it had vastly overstated revenues. The company now estimates that fiscal 1992 sales, originally reported at $20.5 million, were actually $4.2 million lower. That increased its net loss from $12.7 million to $17.2 million. $by
EDITED BY THANE PETERSON