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

Luther Medical Products Inc.: The Tustin designer and manufacturer of intravenous catheter systems reported a profit of $2.4 million, or 81 cents a share, for the fiscal year ended June 30. The company lost $961,923, or 34 cents a share, the previous year, which included a loss of $378,938 from discontinued operations. Revenue totaled $7.4 million, including a gain of $4.4 million from the previously reported sale of five patents to Johnson & Johnson Medical Inc. Revenue from the prior fiscal year was $2.3 million. In the fourth quarter, the company lost $209,482, or 7 cents a share, compared with a net loss of $396,361, or 13 cents a share, for the comparable period last year. Revenue declined 14% to $575,645 from $668,322.