75% Drop in Net Income Reported by Trimedyne Inc.

The Tustin-based medical-laser manufacturer said that increased research and development and marketing expenses contributed to a 75% decline in net income for fiscal 1989. Net income for the year ended Sept. 30 totaled $1.3 million, compared to $5.3 million for fiscal 1988.

Results for fiscal 1988 included benefits from net operating loss carry-forwards totaling $1.2 million. Revenue was $33.3 million, 7% higher than the previous year’s $31.2 million.

For the fourth quarter, net income dropped 79%, to $328,000 from $1.6 million. The fiscal 1988 fourth quarter included an extraordinary gain of $225,000. Revenue declined 37%, to $6.6 million from the $10.6 million posted for the comparable 1988 period.