Cimco Inc. reported record net income of $3.2 million for the fiscal year ended April 30, a 20% increase over the $2.7 million posted last year. Sales increased 40% to a record $55 million from $39.3 million. For the fourth quarter, net income totaled $797,375, 5% higher than the $761,669 recorded for the comparable period last year. Sales rose 14% to $13.9 million from $12.2 million. Cimco, based in Costa Mesa, makes components and subassemblies for the electronics, computer, construction, health care and defense industries.