Hycor Biomedical Inc.: The Irvine medical diagnostic...

Hycor Biomedical Inc.: The Irvine medical diagnostic products company said net income for the first quarter fell to $68,000, or 1 cent a share, from $550,000, or 7 cents a share, for the like 1995 period. Sales declined 18% to $5.3 million from $6.5 million. The company attributed the declines to a restructuring program last year that divested or discontinued a third of its business, a more ambitious sales and marketing program and higher expenditures for research and development.