Medstone International: The Irvine medical equipment manufacturer...

Medstone International: The Irvine medical equipment manufacturer reported a net loss of $602,471 for the first quarter, down from the $358,534 net income reported for the first quarter of 1989. Revenue increased slightly, to $4.3 million from $4.2 million. Freeman Rose, chairman and chief executive, said costs resulting from efforts to reduce operating expenses were recorded in the first quarter and that defense for a class-action lawsuit resulted in higher legal fees.