SOURCE: Arrhythmia Research Technology, Inc.

Arrhythmia Research Technology, Inc.

May 03, 2010 09:05 ET

Arrhythmia Research Technology, Inc. Announces Results for First Quarter 2010

Results Include Initial Revenue From Multi-Year SAECG Software License

FITCHBURG, MA--(Marketwire - May 3, 2010) - Arrhythmia Research Technology, Inc. (the "Company") (NYSE Amex: HRT) and its wholly owned subsidiary Micron Products, Inc. ("Micron") reported total revenue of $5,585,000 and net income of $103,000 for the quarter ended March 31, 2010, which represent increases of 19% and 26% respectively as compared to total revenue of $4,683,000 and net income of $82,000 for the same quarter of 2009. Net income per share for the three months ended March 31, 2010 increased 33% to $0.04 per share from $0.03 per share for the same period in 2009.

James E. Rouse, the Company's President and CEO, commented, "The revenue increase from the same period in 2009 was mainly the result of higher volume in the sensor and defense industries. Sensor volume and revenue increased 8% and 18% respectively in the first quarter, while revenues from defense related products rose 44% from the same period of 2009. We are pleased that implementation of the Company's SAECG software license agreement is ahead of schedule. In the first quarter we completed half the SAECG software adaption to the customer's use, which is reflected in the first quarter revenue.

"Our recent investment in automation for sensor manufacture is reducing labor costs, improving quality, and our ability to meet customer demands. Management is optimistic that our continuing efforts to streamline manufacturing processes and to focus on products, services and strategic goals will continue to produce improved results." 

About Arrhythmia Research Technology, Inc.
The Company's products include proprietary signal-averaging electrocardiography (SAECG) software used in the detection of potentially lethal heart arrhythmias. The Company through its wholly owned subsidiary Micron Products, Inc. manufactures silver plated and non-silver plated conductive resin sensors and distributes metal snaps used in the manufacture of disposable ECG, EEG, EMS and TENS electrodes. Micron's MIT division provides end-to-end product life cycle management through a comprehensive portfolio of value-added services such as design, engineering, prototyping, manufacturing, machining, assembly and packaging. MIT manufactures custom injection molded products for medical, electronic, industrial and consumer applications, and provides high end mold design, manufacturing and precision machining for various industries.

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Forward Looking Statements
Forward-looking statements made herein are based on current expectations of the Company that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. The factors that could cause actual results to differ materially include: our ability to maintain our current pricing model and/or decrease our cost of sales; continued availability of supplies or materials used in manufacturing at competitive prices; volatility in commodity and energy prices and our ability to offset higher costs with price increases; the costs inherent with complying with new statutes and regulations; variability of customer delivery requirements; our ability to efficiently integrate future acquisitions and other new lines of business that the Company may enter in the future. More information about factors that potentially could affect the Company's financial results is included in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2009.

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