Bomed Reports Loss of $440,840 for Fiscal 1986

Bomed Medical Manufacturing Ltd. said it had a $440,840 net loss for its fiscal 1986, ended Nov. 30, compared with a $319,000 net loss a year earlier. The Irvine maker of heart-monitoring devices said its revenues increased slightly to $1.34 million during fiscal 1986 from $1.32 million the previous year.

For the fourth quarter, Bomed reported net earnings of $57,430, compared with a net loss of $262,630 a year earlier. Revenues more than tripled to $605,790 from $200,200 in the last quarter of its fiscal 1985.

Company officials attributed the turnaround during the fourth quarter to lower research costs and increased sales that resulted from an expansion of Bomed’s marketing and sales department.