Arrhythmia Research Technology, Inc. Announces 4th Quarter and Year End Results.FITCHBURG, Mass. -- Arrhythmia arrhythmia (ārĭth`mēə), disturbance in the rate or rhythm of the heartbeat. Various arrhythmias can be symptoms of serious heart disorders; however, they are usually of no medical significance except in the presence of Research Technology, Inc. (the "Company") (AMEX AMEX See: American Stock Exchange :HRT HRT abbr. hormone replacement therapy Hormone replacement therapy (HRT) Also called estrogen replacement therapy, this controversial treatment is used to relieve the discomforts of menopause. ) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Micron Products, Inc. ("Micron") reported total consolidated revenue of $19,318,000 for the year ended December 31, 2006 compared to total consolidated revenue of $12,895,000 for the year ended December 31, 2005, an increase of 50%. Net income of $2,164,000 for the year ended December 31, 2006 increased 37% from net income of $1,578,000 for the year ended December 31, 2005. Basic net income per share for the year ended December 31, 2006 increased 37% to $0.81 per share from $0.59 per share for 2005. For the quarter ended December 31, 2006, total consolidated revenue increased 98% to $5,980,000 compared to total consolidated revenue of $3,024,000 for the quarter ended December 31, 2005. Net income for the quarter ended December 31, 2006 increased 26% to $556,000 from $441,000 for the quarter ended December 31, 2005. Basic net income per share for the quarter ended December 31, 2006 increased 24% to $0.21 per share from $0.17 per share for 2005. James E. Rouse, the Company's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented that, "We are very pleased to report that we achieved the highest net income and net income per share results in the Company's history in the year ended December 31, 2006. In addition, the revenue increase for the fourth quarter represents the 15th consecutive quarter in which we achieved quarterly growth over the same period in the prior year. The contributions made by the New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. Molders ("NEM") and Micron Integrated Technologies ("MIT MIT - Massachusetts Institute of Technology ") divisions were significant to our growth in 2006. Combined, these two divisions represented approximately 40% of total revenue and over 80% of the year over year revenue growth. The 98% increase in revenue growth for the fourth quarter of 2006 compared to the same period in 2005 is largely attributable to the increase in defense industry products manufactured by the MIT division. The growth of this division is expected to continue through 2007 and beyond, although quarter to quarter MIT revenues may vary due to the uneven delivery schedule for these new products. The increasing diversity of our product lines continued into the first quarter with the commissioning of the new class 100,000 clean room manufacturing space. The success of organic growth is a complement to our search for acquisitions to enhance or expand our existing product lines. The progress made by the expansion of the NEM and MIT divisions, the integration of the recently acquired Leominster Tool division, and our product development efforts provide positive momentum for the Company's continued growth in 2007 and beyond." About Arrhythmia Research Technology, Inc. The Company, through Micron, manufactures silver plated and non-silver plated conductive resin sensors and distributes metal snaps used in the manufacture of disposable ECG ECG electrocardiogram. ECG abbr. 1. electrocardiogram 2. electrocardiograph ECG Also called an electrocardiogram, it records the electrical activity of the heart. , EEG EEG: see electroencephalography. , EMS and TENS electrodes. Micron's NEM division manufactures custom injection molded products for medical, electronic, industrial and consumer applications. Micron's MIT division provides end-to-end product life cycle management through a comprehensive portfolio of value-added services such as design, engineering, prototyping, manufacturing, machining, assembly and packaging. Micron's Leominster Tool division provides high end mold design and manufacturing for the injection molding industry. The Company's products also include proprietary signal-averaging electrocardiography electrocardiography (ĭlĕk'trōkärdēŏg`rəfē), science of recording and interpreting the electrical activity that precedes and is a measure of the action of heart muscles. (SAECG SAECG Signal-Averaged Electrocardiogram ) software used in the detection of potentially lethal heart arrhythmias. For more information please visit our websites: http://www.arthrt.com http://www.micronproducts.com http://www.newenglandmolders.com http://www.micronintegrated.com http://www.leominstertool.com Forward-looking statements made herein are based on current expectations of the Company that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include: interruptions or cancellation of existing contracts, impact of competitive products and pricing, product demand and market acceptance, risks, the presence of competitors with greater financial resources than the Company, product development and commercialization risks, changing economic conditions in developing countries, and an inability to arrange additional debt or equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB for the year ended December 31, 2005. |
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