Luther Medical’s Loss
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TUSTIN — Luther Medical Products Inc., a Tustin designer and manufacturer of catheter systems, posted a loss for the fiscal year ended June 30.
The company said it lost $608,655, or 20 cents a share, compared with income of $2.4 million, or 81 cents a share, for the prior year. Revenue declined 46% to $4 million from $7.4 million. The 1995 figure included $4.4 million from a patent sale to Johnson & Johnson.
Luther Medical said it also lost $222,079, or 7 cents a share, for the fourth quarter, compared with a year-earlier net loss of $209,482, or 7 cents a share. Revenue more than doubled to $1.3 million from $575,645.
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