La Jolla-based Fisher Scientific Group reported $11.1 million in net income and $235.4 million in revenue for the fourth quarter ended Dec. 31, 1987. The company reported a $199.7-million net loss and $215.6 million in revenue a year earlier.
Fisher reported $30.9 million in net income and revenue that increased by 14% to $908.7 million for 1987. It reported a $233-million net loss and $794 million in revenue for the previous fiscal year.
Fisher "fully expects the earnings trend posted in 1987 to continue into 1988 as a result of the extensive cost reduction and restructuring programs that we implemented in 1986 and continued throughout 1987," according to Chairman and Chief Executive Richard A. Cramer. "We fully expect impact of these programs will improve our margins and ratios by reducing both costs of goods sold, and selling, general and administrative expenses.