BOUNTIFUL — Medical safety needle company Specialized Health Products International Inc. on Wednesday reported a net loss of $1.6 million, or 9 cents per share, for the quarter ended Dec. 31. That included a $1.3 million, or 7 cents per share, accrual for patent lawsuit costs. The fourth-quarter loss compares with a loss of $684,000, or 4 cents per share, for the same period of 2002.
Revenue totaled $1.2 million, up $472,000 from a year earlier.
For 2003, the company reported a net loss of $3.1 million, or 18 cents per share. The loss includes the $1.3 million in litigation costs and a preferred stock deemed dividend of $3.3 million in 2002. That compares with $5.9 million, or 33 cents, for 2002. Revenue totaled $3.6 million, up from $2 million in 2002.
The company's stock rose 5 cents Wednesday to close at $1.20. During the past year, the price has ranged from 64 cents to $1.74.