Gish Biomedical Stock Off 20%

Gish Biomedical Inc.’s stock fell 20% Wednesday after the manufacturer of disposable cardiovascular products said sales for its second quarter ending Dec. 31 would be “closer to $5 million rather than the $5.5 million projected by analysts.”

Gish’s stock, which is traded over-the-counter, closed at $9.875 a share, down $2.50.

The company said it was lowering the sales projection for the quarter because its distributors are reducing their product inventories in preparation for a weakening economy.