IRIS Reports $390,000 Loss in 2nd-Quarter

International Remote Imaging Systems reported it lost $390,000 for the second quarter that ended June 30 compared to $343,000 a year earlier. Revenue was down 20% to $1.3 million from $1.6 million a year ago.

The Chatsworth-based company, which makes urinalysis machines used by hospitals and commercial laboratories, has lost money for more than three years. IRIS attributed its most recent losses to a slowdown in international sales and a drop in research and development revenue due to the termination of a joint research program with a Japanese medical instruments manufacturer.

For the six months that ended June 30, the company losses were $820,000 compared to a $498,000 loss in the same period a year earlier. Revenue fell 22% to $2.3 million from $2.9 million a year ago.