Product Price Declines Hurt Fitchburg Firm's Earnings
Fitchburg-based Arrhythmia Research Technology Inc. and its wholly owned subsidiary Micron Products Inc. said "continuing price erosion" was in part responsible for its weak first quarter performance.
The company, which makes components used in disposable medical devices, said it ended the quarter with a profit of $82,000 compared to $149,000 the previous year.
Revenue for the quarter was $4.7 million compared to $5.5 million last year.
The revenue decline was the result of the elimination of one of the company's product lines and "continuing price erosion in Micron's sensor sales." The company said that while revenue from sensor sales declined over the year, sensor sales volume increased by 20 percent in the first quarter and the company is negotiating a long-term sensor supply agreement with one of its largest customers.
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