Medstone International Inc. reported net income of...

Medstone International Inc. reported net income of $2.6 million for the third quarter. It posted $856,159 for the comparable period last year. Revenue totaled $8.4 million; it recorded $2.8 million for the same period of the prior year. For the first 9 months of 1988, net income rose to $5.8 million, from $852,186 a year earlier. Revenue was $17.6 million; for the first 9 months of 1987, it was almost $5 million. Costa Mesa-based Medstone develops, manufactures and markets shock wave systems for the disintegration of kidney stones and gallstones. The company has received market approval from the FDA authorizing commercial use of its system for treating patients with kidney stones. In addition, it has received approval for clinical evaluations of the Medstone system for treating patients with gallstones.