First Loss In Decade For Arrythmia Research
Fitchburg medical device maker Arrythmia Research Technology Inc. reported its first quarterly loss in 10 years in the second quarter of 2011, largely because its new long-distance monitoring technology is catching on more slowly than the company anticipated.
Arrythmia said its new WirelessDx business, which makes the monitoring product, had a $550,000 operating loss for the quarter. The company as a whole had a quarterly net loss of $255,000 on revenues of $6 million.
In the same quarter of 2010, Arrythmia had revenues of $5.8 million and profits of $219,000.
The company also said anticipated orders of its Predictor software and medical monitoring services were delayed, and it no longer expects revenue from software sales until 2012. It said higher-than-expected sensor sales revenue in its Micron Products division was offset by unexpectedly low sales of defense products.
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