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Medstone International Inc. reported a net loss...

Medstone International Inc. reported a net loss of $183,428 for the second quarter. That contrasts with net income of $2.4 million for the like quarter in 1988, which included $554,000 of extraordinary tax credits. Revenue declined 30%, to $4.4 million from $6.4 million. For the first six months of 1989, net income totaled $175,106, contrasted with net income of $3.2 million for the first half of 1988. Revenue dropped 6%, to $8.6 million from $9.2 million. Freeman Rose, chairman and chief executive, said the decline in profits was attributable to increased sales and marketing expense, non-recurring expenses associated with a new facility and acquisition of a third-party service organization. Irvine-based Medstone manufactures shock-wave systems for the nonsurgical treatment of kidney stones.


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