Nichols Institute Posts $325,000 Net for Quarter

Nichols Institute reported net income for its fiscal 1987 second quarter of $325,000, contrasted with a $60,000 loss in the same period last year. Revenues for the quarter ended May 31 were $13.5 million, up 53% from $8.8 million a year earlier.

For the first half, the San Juan Capistrano-based clinical laboratory reported net income of $408,000, contrasted with a year-earlier loss of $28,000. Sales of $24.7 million were up 50% from $16.4 million for the first half of the company’s fiscal 1986.

Nichols, which provides diagnostic medical testing services to hospitals and physicians, said its improved performance for the quarter and the first half came largely from its Reference Laboratories division, where testing capacity was expanded last year.