ICN Biomedicals of Costa Mesa Reports Record Figures

ICN Biomedicals Inc., the Costa Mesa maker of biotechnology research and clinical diagnostic products, said Monday that both net income and sales for fiscal 1989 reached record levels. Net income for the year ended Nov. 30 jumped 69%, to $6.1 million from $3.6 million in 1988. Sales totaled $61.4 million, 22% higher than the $50.5 million recorded for 1988.

For the fourth quarter, net income rose to $1.8 million, contrasted with $163,000 for the like period in 1988. Sales increased 62%, to $20.8 million from $12.9 million. The 1989 fourth-quarter results included income from one month’s operations of Flow Laboratories, which ICN Biomedicals bought in November.