March 22, 2011
Annual Profits Up 37% At Arrhythmia Research
By Christina Davis
Fitchburg-based Arrhythmia Research Technology reported that its net income totaled $515,282 for the year ended Dec. 31, 2010, an increase of 37 percent over the 2009 results.
Revenue at the manufacturer increased 10 percent to nearly $23.4 million.
Despite the strong annual results, net income for the fourth quarter declined 31 percent to $74,456.
Highlights for 2010 included the company's acquisition in June of Prince Edward Island, Canada-based RMDDx Corp.
Arrhythmia said it has the "strongest balance sheet in the company's history," including nearly $4 million in cash and $8.8 million in working capital. The company also said it has restored its semi-annual dividend.
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