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* Meade Instruments Corp., an Irvine designer and manufacturer of telescopes, accessories and binoculars, reported that net income fell to $760,000, or 5 cents a share, for the second quarter from $2.6 million, or 17 cents a share, a year ago. Sales declined 24% to $27.2 million as the soft economy depressed sales of most major products, the company said.

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