Pacific Scientific Reports Hike in Profit

NEWPORT BEACH — Pacific Scientific Co. posted a 24% increase in profit last year on a 15% gain in sales.

The Newport Beach manufacturer of electrical and safety equipment reported that net income rose to $12.8 million, or $1.01 a share, from $10.3 million, or 83 cents a share, for 1994. Sales totaled $284.8 million, up from $247.7 million.

Fourth-quarter profit declined 8% to $3.4 million, or 26 cents a share, from $3.7 million, or 30 cents a share, for the like 1994 period. Sales gained 4% to $72.4 million from $69.8 million. The company said the acquisition Dec. 29 of Met One Inc. resulted in an increase of 983,000 outstanding shares.