Arrhythmia Research Technology Inc. of Fitchburg reported a 4-percent increase in its 2011 revenue, at $24.3 million, but it also reported a net loss of $1.3 million for the year.
Net loss per share for the year was 48 cents, compared to an income of 19 cents in 2010.
Fourth-quarter revenues also dipped $837,363 from the same period in 2010, to $5.3 million. Net loss per share was 37 cents.
President and CEO James E. Rouse said 2011 was a year of major investment for the company, which dedicated more than $3 million to its WirelessDx service model because the company sees long-term growth potential in the product.
The company’s Micron Products achieved the highest sales in its history, increasing more than 40 percent over 2010. Micron’s MIT division saw a 34-percent net decrease in revenue due to the completion of a defense-related project and an overall slowdown in sales of other defense-related products.
The company said fourth-quarter results were down because of higher-than-expected sales shifting to the third quarter of 2011 as well as timing delays for new product offerings.
Read more
