ICN Biomedicals, a Costa Mesa-based supplier to...

ICN Biomedicals, a Costa Mesa-based supplier to biotechnology research and clinical diagnostic markets, reported net income of $1.3 million for its fiscal second quarter ended May 31, up 68% from $783,000 for the same quarter a year ago. Sales rose 28% to $13.2 million in the second quarter of fiscal 1988 from $10.3 million during the same period of fiscal 1987. The company’s second-quarter results for fiscal 1988 include a $261,780 gain from the buyback of debt. ICN Biomedicals, a subsidiary of ICN Pharmaceuticals, posted net income of $1.97 million for the first six months of fiscal ‘88, up about 9% from $1.81 million for the comparable period last year. Sales for the first six months of the current fiscal year totaled $24.5 million, up 23% from $19.9 million for the same period a year ago.