Hycor Biomedical Inc. reported first quarter earnings of $37,000 as contrasted to a $34,000 loss for the same time period last year. Revenue for the quarter ended March 31 remained virtually unchanged from last year's quarterly sales of $1.67 million.
Reginald Jones, the company's chief financial officer, said the increased earnings are a result of continued consolidation after Fountain Valley-based Hycor Biomedical acquired a local scientific firm and moved to Orange County from Atlanta about a year and a half ago.
A developer of diagnostic products used in clinical laboratories, Hycor was awarded a $480,000 federal grant last July to develop a test that may detect heart-related diseases in children, Jones said. After going public in 1983, the company first became profitable during the last quarter of fiscal 1986.