Nichols Institute: The national provider of diagnostic...

Nichols Institute: The national provider of diagnostic laboratory services based in San Juan Capistrano, posted third-quarter net income of $1.3 million, more than double the net income of $636,000 in the same quarter a year ago. Third-quarter revenue was $32.8 million, up 30% from $25.2 million a year ago. The company’s net income for the first nine months of 1989 was $3.4 million, up 70% from $2 million. Its revenue for the nine-month period was $95.5 million, up 49% from $64.1 million last year. Company officials said the growth in revenue and earnings was the result of improved service and increased marketing efforts as well as last year’s acquisition of a laboratory in St. Cloud, Minn.