American Cytogenetics Inc., a North Hollywood laboratory testing company, reported a $16,347 profit for its fiscal year ended Jan. 31.
In the previous fiscal year, the company lost $908,963. Its annual revenue decreased by 7% to $5.28 million in the latest 12 months from $5.7 million in revenue a year before.
American Cytogenetics said its profit turnaround is the result of a two-year program that included reducing costs, raising prices, modernizing its data-processing system and raising additional investment capital.
The company specializes in testing for cervical cancer and certain sexually transmitted diseases.