Arrhythmia Research Technology, and its wholly owned subsidiary, Micron Products, reported a loss in profits for the fourth quarter and year-end results for 2007.
The company posted a total consolidated revenue of approximately $19.5 million for the year, which ended Dec. 31, 2007, compared to total consolidated revenue of $19.3 million for the prior year, which ended Dec. 31, 2006, an increase of 1 percent.
However, the company reported that the net income of $1.3 million for the year, which ended Dec. 31, 2007 decreased 41 percent from net income of $2.16 million for the year, which ended Dec. 31, 2006.
The fourth-quarter profits also dropped 67 percent to $186,000, while the total revenue for the quarter decreased 23 percent to $4.6 million, according to Fitchburg, Mass.-based Arrhythmia.
“Diversification and development of new products outside of our historical core business of conductive sensors for the disposable medical electrode industry has required investment in technology, infrastructure and human resources that negatively impacted our financial results for 2007,” said James E. Rouse, president and CEO of Arrhythmia.