Nichols Institute posted net income of $636,000...
Nichols Institute posted net income of $636,000 for its third quarter ended Sept. 30, 83% higher than the $348,000 reported for the 1987 third quarter. Revenue rose 74% to $25.2 million from $14.4 million. Net income for the 9-month period was $2.2 million, including $210,000 from an accounting change reported in the fiscal 1988 first quarter. Net income for the comparable period last year totaled $919,000. Revenue increased 57% to $64.1 million from $40.9 million for the 1987 9-month period. Albert L. Nichols, chairman and chief executive, noted that the third quarter’s record revenue performance was substantially attributable to the acquisitions of the Laboratory of Clinical Medicine and Clinical Laboratories of Lincoln Inc. Nichols Institute, based in San Juan Capistrano, operates clinical reference laboratories and specializes in providing diagnostic testing.
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