Medstone International Inc.: The Irvine manufacturer of...

Medstone International Inc.: The Irvine manufacturer of medical equipment reported a loss of $761,793 for the second quarter, compared with a loss of $183,428 for the like 1989 period. Revenue dropped 41% to $2.6 million from $4.4 million. For the first six months, the company lost $1.4 million, contrasted with net income of $175,106 for the 1989 first half. Revenue declined 20% to $6.9 million from $8.6 million. Richard Ferrari, president and chief operating officer, said legal expenses associated with the defense of a class-action lawsuit contributed to the second-quarter loss.