Luther Medical Products Inc.: The Tustin manufacturer...

Luther Medical Products Inc.: The Tustin manufacturer of catheter products said it lost $286,664, or 10 cents a share, for its third fiscal quarter, contrasted with a profit of $14,632, or 1 cent a share, for the period last year. Revenue for the quarter ended March 31 declined to $679,197 from $1 million. For the first nine months, the company reported a net loss of $565,562, or 20 cents a share, on revenue of $2.5 million. That contrasts with profit of $64,418, or 3 cents a share, on revenue of $3.1 million for the nine months ended March 31, 1993. The company said the loss was primarily the result of a 56% decline in sales to its distributor. The company is now developing new distribution channels.