American Cytogenetics, a North Hollywood-based operator of medical testing laboratories, named Edward M. Young, 39, as its president and chief executive.
A health care consultant, Young has been a director of American Cytogenetics since 1981 and had been serving most recently as vice president and chief operating officer. He replaces Harry L. Lawrence, who resigned in July to take a job as vice president with Central Diagnostic Laboratories in Tarzana.
American Cytogenetics, citing stronger sales and lower production costs, also announced that it earned $40,932 in the second quarter ended July 31, up more than eightfold from $4,940 a year earlier. Revenue increased 33%, to $1.3 million.
For the six months ended July 31, the company's profit was $56,379, up fourfold from $14,082 a year earlier. Revenue increased 34%, to $2.6 million.