Gish Biomedical Profit Dips 18% in 3rd Quarter

Gish Biomedical Inc., the Irvine manufacturer of medical devices, recorded an 18% decline in profit for its third fiscal quarter. The company said it earned $412,300, or 13 cents a share, compared to profit of $502,100, or 15 cents a share, for the corresponding period last year. Sales for the quarter ended March 31 were down 7% to $5.2 million from $5.6 million. For the first nine months of its fiscal year, the company’s profit was $1.3 million, unchanged from the same period a year earlier. Nine-month earnings per share were 40 cents, compared to 43 cents a share. Sales increased 4% to $15.4 million from $14.8 million. The company attributed the third-quarter sales decline primarily to uncertainty in the medical community regarding pending federal health-care legislation.