Nichols Institute said Thursday that earnings during...

Nichols Institute said Thursday that earnings during the fiscal first quarter will be substantially lower than securities analysts’ projections of $350,000 to $400,000. The San Juan Capistrano medical services firm’s net earnings for the quarter ending Feb. 28 are likely to range from break-even to about $120,000, said Bob Gentry, chief financial officer. Although it had been believed that the projections would be in line, Gentry said start-up costs from three new laboratories at the company’s main plant, coupled with costs of bringing two new diagnostic tests to market, will result in the lower-than-expected results.