Pacific Scientific Reports Income of $416,000 in Second Quarter

Pacific Scientific Co., the Newport Beach manufacturer of industrial and aerospace products, reported net income of $416,000 on $44.7 million in sales for the second quarter. For the like period last year, the company posted net income of $1.8 million on sales of $46.9 million.

The 1990 net income figure included a gain of $920,000 from the sale of a product line.

The company attributed the revenue decline to the effects of the recession on the industrial products segment.

Net income for the first six months of 1991 dropped 56%, to $1.2 million from $2.7 million a year earlier. Sales declined 3%, to $88.6 million from $91.7 million.