Fitchburg-based Arrhythmia Research Technology Inc. , and its wholly owned subsidiary Micron Products Inc., saw profits drop 41 percent in 2007 as the company worked to develop products outside its core business.
The company’s net income was $1.3 million, down from $2.2 million in 2006. Total revenue was up 1 percent for the year, to $19.3 million.
Fourth-quarter profits also dropped 67 percent, to $186,000. Meanwhile, total revenue for the quarter decreased 23 percent to $4.6 million.
The company said it has been investing in new technology, infrastructure and staff to develop products outside of its main line of conductive sensors for the disposable medical electrode industry.
