Gish Biomedical Inc. Notes Increase in Net Earnings

Gish Biomedical Inc. reported net earnings of $198,000 for its fiscal 1987 third quarter ended March 31, more than 11 times the $16,782 posted a year earlier. The increased profits came on record sales of $2.6 million for the quarter, up 37% from the year-earlier $1.9 million.

For the first nine months, the Santa Ana-based manufacturer of medical products posted $450,000 in net earnings, compared with a loss of $282,000 in the same period of its fiscal 1986. Revenue for the nine months rose 40% to $7 million from $5 million a year earlier.

The company attributed the third-quarter earnings increase to improved sales of two relatively new products used in heart and lung surgery.