Price Pressure Squeezes Fitchburg Co.
Medical device component manufacturer Arrhythmia Research Technology Inc. and its wholly-owned subsidiary Micron Products Inc. of Fitchburg said its profit sank to $77,000 on revenue of $5.4 million in the second quarter.
For the same period a year ago, the company reported income of $134,000 and $6.4 million in revenue.
For the first half of the year, Arrhythmia reported net income of $159,000 on revenue of $10.1 million. A year ago, the company reported net income of $283,000 on revenue of $11.9 million for the first half.
The company said it has eliminated unprofitable products from its line and has made efforts to make its manufacturing process more efficient. However, "intense price competition" in the market is expected to have a continued negative effect on the company's earnings and profit margin.
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