SHPI moves to profitability for the quarter and year

Bountiful-based Specialized Health Products International Inc. on Wednesday said it posted net income for the fourth quarter and full year of 2006, compared to losses in the prior year's similar periods.

SHPI, which develops, manufactures and markets safety medical devices, said its net income for the fourth quarter was $144,000 on total revenue of $3.8 million, compared to a net loss of $1.8 million on revenue of $1.9 million in the same quarter of 2005.

For all of fiscal 2006, the company posted record revenue of $13.3 million, compared to $7 million in fiscal 2005. Its net income for 2006 was $385,000, or 1 cent per share, compared to a net loss of $2.8 million, or 7 cents per share, in 2005.