Ultrasound technology developer Misonix said that its majority-owned subsidiary Sonora Medical Systems has received a $460,000 judgment against the firm in the District Court of Boulder County, Colorado.
The case involved royalties claimed on recoating of transesophageal probes, a process performed by Sonora, according to Farmingdale, NY-based Misonix. As a result of the judgment, Misonix will take a one-time charge against fiscal year 2005 income of $460,000, which will negatively impact its guidance for the year, it said.
Sonora has filed a motion for a new trial in the case, Misonix said.
By AuntMinnie.com staff writers
August 26, 2005
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