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Sonic Innovations lost nearly $1 million in quarter

SHARE Sonic Innovations lost nearly $1 million in quarter

Sonic Innovations Inc. reported a net loss of $997,000, or 5 cents per share, in the fourth quarter of 2001.

The Salt Lake-based company, a manufacturer of hearing aids, said sales in the fourth quarter totaled $15 million, a 37 percent increase from sales during the same period a year earlier.

However, for the year ended Dec. 31, the company experienced a net loss of $5.6 million, or 28 cents per share.

Company president and chief executive officer Andy Raguskus said in a statement he expects the company will achieve profitability in 2002.