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

Richey Electronics Inc.: The Garden Grove distributor of electronic components posted third-quarter net income of $1.6 million, or 17 cents a share, 11% lower than the $1.8 million, or 18 cents a share, for the 1996 third quarter. The company said net income was affected by an acquisition in Canada. Sales rose 21% to $65.1 million from $53.7 million. Net income for the nine months totaled $5 million, or 53 cents a share, up 9% from the $4.6 million, or 50 cents a share, for the corresponding period of 1996. Sales gained 6% to $181.2 million from $170.3 million.