ICN Biomedicals of Costa Mesa reported that...

ICN Biomedicals of Costa Mesa reported that net income in its first quarter ended Feb. 29 dropped 35% to $661,000 from $1.02 million in the year-earlier quarter. Sales increased 19% to $11.4 million from $9.6 million. The company said sales growth in the quarter reflected gains in both its biotechnology research products and diagnostic businesses. The company also introduced a number of new products in the quarter. ICN Biomedicals markets its products to research and clinical laboratories, physicians’ offices and other health-care sites, primarily in the United States, Canada, Mexico and Europe.