Pacific Scientific Co.: The Newport Beach manufacturer...

Pacific Scientific Co.: The Newport Beach manufacturer of electrical and safety equipment reported a sharp increase in net income for the third quarter on an 8% gain in revenue. The company earned $3.2 million, or 26 cents a share, up from $870,000, or 7 cents a share, for the third quarter last year. The three-month period in 1996 included a loss from discontinued operations of $1.4 million. Revenue rose to $76.7 million from $70.9 million.

For the nine months, the company recorded a net loss of $4.5 million, or 36 cents a share, which included a loss of $13.6 million from discontinued operations. Pacific Scientific reported a net loss of 976,000, or 8 cents a share, for the comparable three quarters of 1996, which included a loss from discontinued operations of $8.7 million. Sales advanced 5% to $227.7 million from $217.1 million.

The company discontinued its Solium subsidiary operations in March.