Trimedyne Posts Profit

Trimedyne Inc., Irvine designer of medical lasers, reported net income of $2.1 million, or 19 cents a share, for the third fiscal quarter, which included a gain of $3.6 million from the sale of a patent license. The company posted a net loss of $1.7 million, or 15 cents a share, for the same period a year ago. Revenue for the quarter ended June 30 declined 28% to $1.8 million from $2.5 million.

For the nine months, Trimedyne recorded a net loss of $906,000, or 8 cents a share, which included $2.2 million of start-up and research and development expenses from its 90%-owned subsidiary, Cardiodyne Inc. A year earlier, the company lost $4.5 million, or 41 cents a share. Revenue was down 14% to $5.5 million from $6.4 million.