Gish Biomedical Edges Into the Black at Year End

Despite losses of $299,000 during the first half, Gish Biomedical Inc. edged into the black for the close of its fiscal year ended June 30. The Santa Ana-based surgical and medical supplier posted essentially symbolic earnings of $888 for the year, contrasted with earnings of $94,069 in the 1985 fiscal year.

Revenue for the fiscal year totaled $7.2 million--a 27% increase over $5.6 million in sales in 1985.

For the fourth quarter Gish posted net income of $283,000 contrasted with net income of $32,647 the prior year. Revenues for the quarter were $2.2 million, a 40% improvement over the $1.6 million last year.

Jack Brown, Gish president, said two new distribution and manufacturing contracts worth $5 million to the company over the next three years will give the company record earnings during the next fiscal year.