Fitchburg's Arrhythmia turns profit, boost sales
Medical device manufacturer Arrhythmia Research Technology of Fitchburg saw a nearly 13-percent jump in net sales last year and turned its first profitable year since 2010, its CEO said Friday.
Arrhythmia, which operates through its subsidiary, Micron Products, said net sales grew 12.8 percent to $24.1 million, while its gross margin widened to 19.3 percent. CEO Salvatore Emma Jr. said improved efficiencies and higher volumes drove the increase in margin.
The company also cited higher net sales of its sensors and strong demand for orthopedic implant components.
For the year, Arrhythmia achieved net income of $700,000 million, or 23 cents per share. In 2013, the company lost $3.5 million, or $1.31 per share.
“Thanks to the hard work and dedication of our employees, the company achieved its first profitable year since 2010 and its most profitable year since 2007,” Emma said in the statement.
For the fourth quarter of 2014, net sales were $5.7 million, down from the $6.1 million posted in the fourth quarter of 2013. The company said the timing of customer orders and shipments affected net sales results for orthopedic implant components during the quarter, and that sales of thermoplastic injection molding products were lower “due to product mix and decreased order volume from medical device components.”
“We believe that contract manufacturing of medical devices and components will be a primary driver of future growth,” Emma said.
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