Arrhythmia Research Technology Reports 12.8% Net Sales Growth and 5.1 Point Margin Expansion in 2014
FITCHBURG, Mass., March 20, 2015 (GLOBE NEWSWIRE) — Arrhythmia Research Technology, Inc. (NYSE MKT:HRT) (the “Company”), through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device technologies requiring precision machining and injection molding, announced today results for its fourth quarter and year ended December 31, 2014.
Salvatore Emma, Jr., President and CEO, commented, “Our revenue and earnings growth was driven by increased volume across all product lines, cost discipline, and improved operational efficiencies. Thanks to the hard work and dedication of our employees, the Company achieved its first profitable year since 2010 and its most profitable year since 2007.”
Strong net sales growth in 2014; Fourth quarter impacted by orders and product mix
Net sales for the year ended December 31, 2014 were $24.1 million, up 12.8% from $21.3 million in 2013. Growth was driven primarily by higher net sales of sensors and strong demand for orthopedic implant components.
