Hycor Biomedical Inc.: The Irvine maker of...
TIMES STAFF WRITER
Hycor Biomedical Inc.: The Irvine maker of medical diagnostic products reported that net income for 1996 declined to $17,000 from $131,000, or 2 cents a share, for 1995. Revenue dropped 20% to $20.1 million from $25.2 million. Net income for the fourth quarter was $1,000, contrasted with a net loss of $1.1 million, or 14 cents a share, for the 1995 fourth quarter.
Revenue was down 21% to $4.9 million from $6.2 million. The company attributed the sales decline to a restructuring plan to discontinue or divest itself of product lines that accounted for about one-third of the company’s sales.
