Hycor Biomedical Inc.: The Garden Grove-based biotechnology...
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Hycor Biomedical Inc.: The Garden Grove-based biotechnology company reported a 27% decline in net income for the third quarter, to $168,000 from $231,000 a year ago. Sales rose 14% to $2.5 million from $2.2 million. For the nine-month period, earnings dropped 34% to $418,000 from $638,000 for the comparable year-earlier period. Sales rose 9% to $7.5 million from $6.9 million. The company said the earnings decline reflected heavy promotional and marketing activities for its line of on-site drug tests.
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