Laser Precision’s Net Income Falls

Laser Precision Corp., an Irvine-based manufacturer of test and measurement instruments, posted net income of $123,000 for the third quarter, a sharp decline from the $569,000 reported for the like quarter in 1988. Sales dipped 5%, to $6.3 million from $6.7 million. For nine months, the company reported that net income totaled $669,000, in contrast with $1.2 million for the comparable three quarters last year. Sales rose 3%, to $19.4 million from $18.9 million.

David M. Goodman, chairman and chief executive, said sales declined in its radiometric and analytical instrument product lines during the third quarter. In addition, operating expenses rose 17% because of investments in the company’s direct sales organization, marketing and product development.