Fitchburg Firm Reports 72% Profit Slide
Net income for 2008 at Fitchburg-based Arrhythmia Research Technology Inc., and its wholly owned subsidiary Micron Products Inc., decreased by 72 percent compared to the previous year.
The company reported 2008 net income of $361,000 compared to $1.3 million in 2007. The company said $302,000 in one-time charges related to acquisitions and research and development activities contributed to the profit decline.
The company's revenue increased 15 percent from $19.5 million in 2007 to $22.5 million last year.
Arrhythmia said that because of industry competition, it has been unable to offset increases in labor, manufacturing, materials and energy costs with customer price increases.
The company makes metal and plastic components for medical device manufacturers.
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