Brisk Orders for Catheters Give Luther Slight Profit
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TUSTIN — Luther Medical Products Inc., benefiting from brisk orders for its specialized catheters, said Tuesday that it reported a slight profit of $28,000 for its fiscal quarter ended Dec. 31.
The medical firm’s profit, equal to 1 cent a share, contrasts with a loss of $192,844, or 8 cents a share, for the same period a year earlier. Revenue increased to $1.1 million from $715,762 a year earlier.
Ron Luther, chairman and chief executive of the company, said that the results were “consistent with our projections.”
The company, based in Tustin, also announced that it has appointed S. (Cy) Robert Gordon as its new chief financial officer. Gordon previously served as chief financial officer at VHQ Ltd., a Newport Beach telecommunications company. He succeeds Elton L. Epley, who had agreed to only a one-year stint in the post.
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