Radiance Medical Systems Inc.

The Irvine medical products company incurred a fourth-quarter net loss of $919,000, or 7 cents a share, compared with a net loss of $1.1 million, or 10 cents a share, for the 1999 fourth quarter. Revenue rose 29% to $2.2 million.

Radiance attributed the narrower loss to higher license and other revenue, but said it expects losses to widen in the first quarter because of higher clinical and research and development expenses. The company lost $1.45 million, or 13 cents a share, on revenue of $2.36 million for the first quarter ended March 31.

For 2000, the company lost $5.5 million, or 46 cents a share, for the year, compared with a 1999 net loss of $10.8 million, or 98 cents a share. Revenue increased 33% to $8.9 million.