Laser Precision Corp.: The Irvine-based manufacturer of...

Laser Precision Corp.: The Irvine-based manufacturer of test and measurement instruments reported that net income fell to $157,000 for 1989, contrasted with net income of $1.9 million for 1988. Sales dipped to $26.2 million from $26.5 million.

In the fourth quarter of 1989, the company incurred a net loss of $514,000, contrasted with net income of $620,000 for the period in 1988. Sales declined 12%, to $6.7 million from $7.6 million.

David M. Goodman, chairman and chief executive, said a restructuring in the analytical instruments division in 1989 did not begin to produce an anticipated pickup in sales bookings until the fourth quarter of the year.