Richey Electronics Inc.: The Garden Grove components...

Richey Electronics Inc.: The Garden Grove components distributor, doing business as RicheyCypress Electronics, posted net income for the second quarter of $909,000, or 11 cents a share, a 71% increase from the $532,000, or 9 cents a share, reported for the 1994 second quarter. Sales rose 23% to $28.3 million from $23.1 million. For the first half, profit was up 79% to $1.6 million, or 23 cents a share, from $887,000, or 15 cents a share. Sales were up 27% to $54.9 million from $43.4 million. Richey also said it had signed an agreement to purchase the assets of Inland Empire Interconnects in Ontario. The transaction is expected to close in mid-August.