November 14, 2011
Arrhythmia Research Loss Driven By Start-up Costs
Arrhythmia Research Technology Inc. of Fitchburg had a net loss of $74,000 on revenues of $6.8 million in the third quarter of the year.
Investment in its start-up medical services subsidiary WirelessDx continued to drain money from the bottom line, according to a financial filing by the company.
In the same quarter last year, the company had net income of $120,000 on revenues of $5.9 million.
Arrhythmia said the WirelessDx division is growing, but it's still spending more to scale up its operations than it is seeing in revenue. Another company division, sensor-maker Micron, increased its sales and partially offset the WirelessDx loss.
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