Earnings Fall, Revenue Rises at Luther Medical
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Luther Medical Products Inc., a Tustin manufacturer of intravenous catheter systems, earned $1,541 for the first fiscal quarter, down from the $24,675, or 1 cent a share, a year ago. Revenue for the quarter ended Sept. 30 increased 7% to $1.6 million from $1.5 million.
Luther Medical announced earlier that it had signed a definitive agreement to be acquired by Becton Dickinson and Co. The transaction is scheduled to close in January.
