Fitchburg's Arrhythmia Research loses $266K
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Citing difficulty in the global market, Arrhythmia Research Technology of Fitchburg reported a loss of $266,000 in the third quarter of 2015.
The contract engineering medical device company, which also operates through its wholly-owned subsidiary Micron Products, saw sales slip 13.6 percent year-over-year to $5.2 million for the quarter that ended Sept. 30. Gross profit dropped by 38.2 percent in that same period, leaving the company with a net loss of $266,000, or a 304.6-percent decline from the third quarter of 2014.
Decreased sales volume of the company’s sensors led to the decline in profits, said Salvatore Emma, president and CEO, in the company’s earnings statement. The drop in sales was attributed to delays from international customers reacting to the strength of the U.S. dollar.
Increased orders for automotive components partially offset a decrease in sales of custom thermoplastic injection molding used for military and law enforcement products, the company reported.
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