Nichols Institute, San Juan Capistrano, reported first-quarter...

Nichols Institute, San Juan Capistrano, reported first-quarter net income of $833,000, contrasted with $238,000 for the comparable period last year. The 1988 figure included $210,000 from a change in accounting. Revenue was $18.9 million, a 49% increase from the $12.7 million posted for the first quarter of 1987. Completion of the acquisition of the Laboratory of Clinical Medicine in Sioux Falls, S.D., by the institute’s Network subsidiary contributed to 1988 first-quarter earnings, the company said. Nichols Institute operates laboratories specializing in endocrinology, oncology, immunology, serology, microbiology, toxicology, genetics, special chemistries and virology. It also manufactures and markets kits for the performance of medical diagnostic tests.