Laser Precision Corp.: The San Juan Capistrano...

Laser Precision Corp.: The San Juan Capistrano maker of test and measurement instruments said its annual profit fell 24% to $1.3 million, or 26 cents a share, as it made a greater investment in new-product research. For 1991, the company had earnings of $1.7 million, or 61 cents a share, a year earlier. Annual revenue fell 11% to $23 million from $25.8 million. For the fourth quarter, the company’s profit fell 11% to $720,000, or 15 cents a share, from $909,000, or 19 cents a share, for the same period a year earlier. Three-month revenue rose 3% to $6.9 million from $6.7 million. During the quarter, the company began shipping one of its optical instruments to the Army under a five-year supply contract.