Arrhythmia Earnings Skip A Beat
Fitchburg-based Arrhythmia Research Technology Inc. and subsidiary Micron Products Inc. reported a 70 percent decline in second quarter net income despite a 19 percent revenue gain.
The company said net income for the quarter was $134,000 compared to $446,000 in the second quarter of 2007. Revenue increased over the same period from $5.4 million to $6.4 million.
The decline in net income was the result of $302,000 in charges related to an acquisition that never materialized and increased research and development costs, the company said.
For the first half of the year, the company reported net income of $283,000 on revenue of $11.9 million. For the first half of 2007, the company reported net income of $680,000 on revenue of $10.4 million.
The company manufactures metal medical device components.
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