Medstone International Inc.: The Aliso Viejo medical...

Medstone International Inc.: The Aliso Viejo medical products company reported that net income for the first quarter dropped 44%, to $617,314, or 11 cents a share, from $1.1 million, or 20 cents a share, a year earlier. Revenue was down 15%, to $4.1 million from $4.8 million. The company attributed the revenue decline to lower equipment sales and the elimination of catheter sales after a subsidiary was spun off in December.