Medical Testing Lab’s Losses Grow as Sales Dip
American Cytogenetics, which operates medical testing laboratories, reported an $836,032 loss for its fiscal year that ended Jan. 31, compared with a $135,495 loss the previous year.
The latest loss came on a slight dip in annual sales, to $4.91 million from $4.93 million.
The North Hollywood company said about $300,000 of the fiscal 1989 loss stemmed from settlement of a lawsuit that was brought against it in 1986 by a company that formerly provided it with an independent sales force.
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