ICN Biomedicals Posts Quarterly Loss

ICN Biomedicals Inc., the Costa Mesa supplier of biotechnology research products and medical diagnostics, reported a first-quarter net loss of $781,000, or 5 cents a share, contrasted with a profit of $553,000, or 5 cents a share, a year earlier. The company said it expects its previously announced restructuring to return it to profitability in the latter part of 1992. Sales for the latest quarter dropped 28% to $21.2 million from $29.5 million.