Nichols Institute Lost $4.3 Million Last Year After a Profitable 1991

Nichols Institute, which provides blood and urine analyses for medical purposes, said Friday that it lost $4.3 million--or 28 cents per share--in 1992.

This was in contrast to a 1991 profit of $3.4 million, or 23 cents per share, for the San Juan Capistrano company.

Revenue, however, picked up about 20%. Annual sales totaled $284.2 million, up 20% from $236.3 million in 1991.

For the fourth quarter, Nichols Institute earned $1.9 million, or 11 cents per share. That contrasts with a loss of $2 million, or 14 cents per share, for the corresponding quarter the previous year. Fourth-quarter revenue was $70.5 million, up from $64.6 million the same quarter in 1991.

The company attributed the year’s red ink to a second-quarter pretax restructuring charge of $13 million for its laboratory in Dallas. Nichols Institute had considered selling the subsidiary, but announced Friday a decision to make a go of it.

“We have restructured our Dallas operation to achieve greater profitability,” said company spokeswoman Marilyn Hauge. Nichols Institute last year trimmed 150 people from its Dallas staff, leaving 50 employees.

Hauge added that the company decided against selling the laboratory because of its “significant client base in Texas.”

Nichols Institute stock closed Friday on the American Stock Exchange at $6.38, up 63 cents.