ORANGE COUNTY EARNINGS

Irvine-based Radiance Medical Systems Inc., formed from CardioVascular Dynamics’ acquisition of the former Radiance Medical business, posted a fourth-quarter net loss of $2.8 million, or 31 cents a share, compared with a net loss of $5.5 million, or 60 cents a share, for the 1997 fourth quarter. Revenue rose 46% to $3.5 million from $2.4 million.

For the year, the company lost $8 million, or 90 cents a share, compared with a loss of $8.8 million, or 96 cents a share, for 1997. Revenue increased 8% to $12.2 million from $11.3 million.

The 1998 revenue included fees received under a licensing agreement. The fees totaled $1.2 million for the quarter and $2.8 million for the year.