Birtcher Medical Loses $20.9 Million in Fiscal Year

Birtcher Medical Systems Inc., an Irvine surgical products manufacturer, posted a loss of $20.9 million, or $2.28 a share, for its fiscal year ended June 30. Most of the loss was recorded for the third quarter as a result of a divestiture and restructuring program. That compared to a loss of $2 million, or 22 cents a share, for the previous fiscal year.

Sales fell 18% to $34.3 million from $42 million. For the fourth quarter, the company lost $1.8 million, or 19 cents a common share, compared to a loss of $2.2 million, or 24 cents a share, for the same period a year earlier. Three-month sales were $7.3 million, down from $9 million.