Viratek Inc.: The Costa Mesa pharmaceutical company...

Viratek Inc.: The Costa Mesa pharmaceutical company reported that its first quarter net income dropped to $182,000 from $440,000 for the first quarter of fiscal 1989. The 1989 first-quarter figure, however, included a one-time gain of $2 million related to a reduction in costs anticipated with the completion of certain studies. Revenue for the 1990 quarter ended Feb. 28 declined 16% to $1.2 million from $1.4 million.