ORANGE COUNTY EARNINGS

Kaynar Technologies Inc.: The Orange-based manufacturer of specialty components and tooling systems reported that net income for the fourth quarter declined 32% to $2.8 million, or 31 cents a share, from $4.1 million, or 46 cents a share, a year ago.

The company attributed the drop to continued losses at its specialty automation equipment operation and professional and legal costs associated with its pending merger with Fairchild Corp. Sales were up 11% to $48 million from $43.1 million.

For the year, net income rose 18% to $14.9 million, or $1.64 a share, from $12.6 million, or $1.54 a share, for 1997. Sales gained 23% to $185.5 million from $150.4 million.