Meade Makes 9% Gain

Meade Instruments Corp., Irvine-based telescope and binocular manufacturer, reported record net income for the second fiscal quarter on a 25% gain in sales.

The company earned $690,000, or 10 cents a share, up 9% from $633,000, or 9 cents a share, for the year-earlier period. Sales for the quarter ended Aug. 31 rose to $15.4 million from $12.3 million.

Net income for the six months rose 96% to $1.2 million, or 18 cents a share, from $635,000, or 10 cents a share, for the first half of the prior fiscal year, which included a one-time charge in the first quarter of $374,000. Sales increased 21% to $30.2 million from $25 million.