ICU Medical Inc.: The San Clemente maker...

ICU Medical Inc.: The San Clemente maker of medical connectors said that net income for 1996 totaled $4.7 million, or 54 cents a share, 12% higher than the $4.2 million, or 50 cents a share, recorded for 1995. Sales were up 15%, to $24.6 million from $21.3 million.

Fourth-quarter net income dropped to $916,000, or 11 cents a share, from $1.6 million, or 18 cents a share, for the comparable 1995 period.

The company attributed the decline principally to the continuing cost of litigation the firm initiated to enforce its patents and to increased levels of spending on new product development. Sales rose 23%, to $6.5 million from $5.3 million.