Pinnacle Micro Inc.: The Irvine manufacturer of...

Pinnacle Micro Inc.: The Irvine manufacturer of optical storage systems company reported a profit of $679,000, or 13 cents a share, for the first quarter. That compared to pro forma net income of $359,900, or 9 cents a share, for the first quarter of 1993. Sales were up 52% to $13.1 million from $8.6 million. The company also announced that its board of directors authorized the repurchase of as many as 200,000 shares of the company’s common stock.