EIP Microwave Inc.: The Newport Beach-based microwave...

EIP Microwave Inc.: The Newport Beach-based microwave test and measurement instrument manufacturer earned net income of $771,000 for the fiscal year ended Sept. 30, contrasted with a loss of $1.6 million for fiscal 1988. The current year’s results reflect a gain of $748,000 from an accounting change. Sales increased 22%, to $13.8 million from $11.3 million. Fourth-quarter net income totaled $293,000, 66% higher than the $177,000 posted a year ago. Sales rose 5%, to $3.6 million from $3.4 million.