Pacific Scientific Net Income Slips

Pacific Scientific Co., a Newport Beach designer and manufacturer of motion controls and other electric equipment, posted a drop in net income for the fourth quarter, while sales increased 10%.

Net income fell to $406,000, or 2 cents a share, for the three months, from $1.1 million, or 9 cents a share, a year ago. The company recorded a one-time, after-tax loss of $3.6 million for the recent fourth quarter from selling its Automation Intelligence subsidiary. Sales increased 10% to $82.7 million from $75.3 million.

For the year, Pacific posted a net loss of $4.3 million, or 35 cents a share, contrasted with net income of $169,000, or 1 cent a share, for 1996. Sales were up 6% to $310.5 million from $292.4 million.

Pacific Scientific has agreed to be acquired by Danaher Corp. in Washington, D.C., for $30.25 a share.