Medstone Reports Loss for 2nd Quarter

Medstone International Inc., which sells instruments used to pulverize kidney stones, reported a net loss of $3 million, or 55 cents a share, for the second quarter, which included a one-time settlement expense of $5.5 million to end class-action litigation. That contrasts with profit of $916,611, or 17 cents a share, for the 1995 second quarter. Revenue was unchanged at $4.3 million.

For the first half, the company posted a net loss of $2.4 million, or 44 cents a share, compared with profit of $2 million, or 36 cents a share, for the first six months last year. Revenue totaled $8.4 million, down 8% from the $9.1 million for the year-earlier period, which included $587,746 from Endocare, which Medstone spun off to stockholders at the end of 1995.