Net Income Down 61% for Gish

Gish Biomedical Inc., a Santa Ana manufacturer of surgical lasers and disposable medical products, said net income for fiscal 1985 declined 61% to $94,000 from $246,000. Revenues for the year, however, increased 25% to $5.6 million from $4.5 million.

Gish officials said the company earned $33,000 in the fourth quarter, ended June 30, up almost 14% from $29,000 for the year ago quarter. Revenues for the fourth quarter were $1.6 million, up more than 30% from $1.2 million for the fourth quarter of fiscal 1984. Company officials said the improved fourth quarter earnings and full year sales were due in part to the introduction of several new products. Chief operating officer Collis Woodward said the company’s research and development costs rose by 66% over 1984. “But we have increased both our overall market potential and our individual market shares by adding . . . new products,” he said.