Medical Services Company Reports Gains in Net, Sales
Nichols Institute, a San Juan Capistrano medical services company, on Friday reported a 48% increase in net income and a 19% increase in revenues for the second quarter ended May 31. The company, which made its initial public stock offering last month, provides medical diagnostic testing services to doctors, hospitals and laboratories nationwide.
Net income increased to $255,000 from $169,000 in the same period a year ago. Revenues reached a record of $5.7 million from $4.8 million reported a year earlier.
For the first half of fiscal 1985, net income rose 26.7% to $489,000 from the $386,000 reported in the first six months of fiscal 1984. Revenues increased to $10.7 million from $9.5 million.
The company went public on May 10, raising $5.8 million from the sale of 1.6 million shares. Nichols also manufactures diagnostic test kits for national and international distribution.