Gish Biomedical Inc.: The Irvine medical products...

Gish Biomedical Inc.: The Irvine medical products manufacturer reported a 28% decline in profit for its latest quarter to $297,600, or 10 cents a share, from $412,300, or 13 cents a share, for the same period a year earlier. Revenue for the company’s third fiscal quarter, which ended March 31, increased 2% to $5.3 million from $5.2 million. Year-to-date profit totaled $828,200, or 27 cents a share, down 38% from earnings of $1.3 million, or 40 cents a share, for the same period a year earlier. Nine-month sales rose 1% to $15.6 million from $15.4 million. Gish said earnings have been reduced by expanded research and development, reorganization of the company’s distribution network and investment in facilities.