Luther Medical Shows a Profit
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TUSTIN — Luther Medical Products Inc., which manufactures catheter systems, reported net income of nearly $3 million, or 97 cents a share, for its fiscal third quarter ended March 31.
That contrasts with a net loss of $286,664, or 10 cents a share, for the like period last year.
Revenue totaled $5.4 million, which included $4.7 million from the previously reported sale of five patents to Johnson & Johnson Medical Inc. for $4.7 million.
Revenue for the year-earlier period was $472,330.
For the first three quarters of the fiscal year, profit reached $2.6 million, or 87 cents a share, contrasted with a net loss of $565,562, or 20 cents a share, for the comparable nine months last year.
Revenue rose for that period to $6.8 million from $1.6 million.
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