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

Luther Medical Products Inc.: The Tustin designer and manufacturer of intravenous catheter systems said it lost $81,651, or 3 cents a share, for its fiscal third quarter, contrasted with net income of $3 million, or 97 cents a share, for the corresponding period a year ago. Revenue dropped to $1.2 million, from $5.4 million, a figure that included the sale of five patents to Johnson & Johnson Medical Inc. for $4.4 million. The company reported a net loss of $386,576, or 13 cents a share, for the nine-month period, contrasted with a year-earlier profit of $2.6 million, or 87 cents a share. Revenue totaled $2.7 million, compared with $6.8 million a year ago.