Nichols Institute in San Juan Capistrano posted...

Nichols Institute in San Juan Capistrano posted net income of $960,000 for the first quarter, a 15% increase from $833,000 reported a year earlier. The 1988 figure includes a $210,000 gain from an accounting change. Revenue totaled $30.2 million, a 60% increase from $18.9 million for the comparable quarter last year. Albert L. Nichols, chairman and chief executive, said the record performance in the 1989 first quarter was attributable in part to acquisitions completed in the second half of 1988. Nichols Institute provides diagnostic and clinical testing, and manufactures medical diagnostic test kits.