Meade Instrument Sees Profit Growth

Meade Instrument Corp., Irvine designer and manufacturer of telescopes and accessories, posted second-quarter net income of $2.6 million, or 17 cents a share, 18% higher than the $2.2 million, or 15 cents a share, a year ago. Sales for the quarter ended Aug. 31 rose 48% to $35.6 million.

The company attributed the gains primarily to sales of its latest ETX line--domestically produced high-end telescopes and imported, less-expensive telescopes.