Gish Reports Loss, Blames Higher Costs

Blaming a dramatic rise in research and development costs, Gish Biomedical Inc., a Santa Ana supplier of surgical and critical care medical equipment, said Wednesday it had a $121,000 loss in its first fiscal quarter ended Sept. 30, compared with profits of $17,000 for the same quarter last year.

Sales for the quarter, however, increased to $1.4 million from the previous year’s first-quarter revenues of $1.3 million. Last month, spokesman Joe Allen said, the company had $660,000 in sales, its highest single-month revenues.