December 8, 1993 |
Luther Medical Products Inc. said Tuesday it has selected veteran medical-products company executive David Rollo as its new president. Rollo was also appointed a director of the Tustin-based company, which makes catheters and nervous-system testing equipment. Ronald B. Luther, who founded the company and had served as interim president, will continue as chairman. Luther Medical said that Rollo, 52, of Dana Point, has 17 years of experience as a manager for manufacturers of medical devices.
September 9, 1993
The Tustin manufacturer of catheter products reported a profit of $44,510, or 2 cents a share, for its latest fiscal year. That contrasted with a loss of $939,337, or 40 cents a share, for the previous year. Revenue for the 12 months ended June 30 rose 46% to $4.1 million from $2.8 million. For the fourth quarter, the company lost $19,908, or 1 cent a share, compared to a loss of $172,977, or 7 cents a share, for the same period last year.
September 7, 1993 |
Luther Medical Products Inc., the Tustin-based inventor of the so-called "stickless catheter," received an infusion of cash recently. The company said that Quintillion B.V., a Dutch investment group, has exercised an option to buy 300,000 shares of Luther Medical common stock for $735,000, said Luther Medical spokeswoman Rivian Bell. Quintillion now has an 11% stake in the catheter maker.
April 27, 1993
Luther Medical Products Inc., the Tustin manufacturer of catheter and neurodiagnostic products, said earnings for its third fiscal quarter totaled $14,632, or 1 cent a share, contrasted with a loss of $575,720, or 23 cents a share, for the same period a year earlier. Revenue showed a gain of 81% to $1.1 million from $562,811. For the nine months of its fiscal year, profit was $64,418, or 3 cents a share, contrasted with a loss of $766,360, or 33 cents a share, a year earlier.
January 13, 1993
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.
November 20, 1992 |
W. Tate Scott, president and chief operating officer of Luther Medical Products Inc., said Thursday that he will resign at year's end. Ron Luther, chairman and founder of the medical products company, said he will take over Scott's duties until a successor can be found. Luther Medical, based in Tustin, makes specialized catheter products, including needles used to insert the intravenous tubes that guard health workers against accidental pricks.
August 6, 1992 |
Luther Medical Products Inc. said Wednesday that royalties from Johnson & Johnson Co. for its stickless catheter may be in jeopardy after the New Jersey-based medical products giant signed a licensing agreement with another company to produce a stickless needle. Although no royalties to Luther Medical have been withheld, Luther Medical President W. Tate Scott said that his company was informed by Johnson & Johnson that a new agreement with British Technology Group Ltd.