Gish Biomedical Sees Jump in Income, Sales
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Gish Biomedical Inc., a Santa Ana-based maker of disposable medical products used in hospitals, said net income for its fiscal 1987 third quarter ended March 31 was $198,230, more than 10 times the $16,782 reported for the same period last year. Sales for the period of $2.6 million were up 36% from $1.9 million a year earlier.
For the first nine months, the company reported net earnings of $449,858, contrasted with a $282,410 net loss the previous year. Sales of $7 million were up 40% from the year-earlier $5 million.
The company attributed the higher sales in part to increased sales of new products and in part to the savings from its recent move into automated production.
Separately, Gish said its common stock will begin trading on the National Market System of the National Assn. of Securities Dealers beginning Tuesday. The company now trades on the over-the-counter market and closed Wednesday at $6.25 per share.
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