Sales Up 76%, Meade Instruments Reports

Meade Instruments Corp., designer and manufacturer of telescopes and accessories, posted net income of $2,000 for the first fiscal quarter ended May 31, which included a nonrecurring adjustment of $374,000, or 7 cents per share. A net loss of $123,000, or 3 cents a share, was recorded for the like period last year. Sales increased 76% to $12.7 million from $7.2 million.