Luther Medical Products Posts $400,192 Quarterly Loss

TUSTIN —  Luther Medical Products Inc., which designs and makes catheter systems, reported a second-quarter net loss of $400,192, or 13 cents a share, which included a one-time charge of $300,303 related to modifications of the company’s quality assurance and regulatory affairs systems. A year ago, the company posted a net loss of $94,298, or 3 cents a share, which included a $122,958 credit. Revenue for the three months ended Dec. 31 increased 46% to $1.2 million from $856,296.

For the first half, Luther reported a net loss of $630,630, or 20 cents a share, compared with a net loss of $304,925, or 10 cents a share, for the corresponding period in 1995. Revenue was up 60% to $2.4 million from $1.5 million.