November 12, 2007
More Revenue, Less Profit For Arrhythmia Research Technology
By Cory Hopkins
Fitchburg sensor manufacturer Arrhythmia Research Technology Inc. reported a one percent bump in total revenue for the third quarter of this year, but an 18 percent decline in net income, compared to the third quarter of 2006.
The company reported total revenue of $4.46 million and net income of $420,000 for the third quarter of this year. In the third quarter of 2006, total revenue stood at $4.41 million and net income was $510,000.
Year-to-date, revenue stands at approximately $14.87 million, with net income at $1.1 million, compared to $13.3 million and $1.6 million, respectively, for the same period last year.
James E. Rouse, the company's president and CEO, attributed the decline in net income to capital investment in equipment, sales and marketing resources, engineering expertise and IT upgrades.
The quarterly revenue gains over last year represented the 18th consecutive increase in quarterly earnings compared to the same period in the prior year, the company said.
The company reported total revenue of $4.46 million and net income of $420,000 for the third quarter of this year. In the third quarter of 2006, total revenue stood at $4.41 million and net income was $510,000.
Year-to-date, revenue stands at approximately $14.87 million, with net income at $1.1 million, compared to $13.3 million and $1.6 million, respectively, for the same period last year.
James E. Rouse, the company's president and CEO, attributed the decline in net income to capital investment in equipment, sales and marketing resources, engineering expertise and IT upgrades.
The quarterly revenue gains over last year represented the 18th consecutive increase in quarterly earnings compared to the same period in the prior year, the company said.
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