Richey Electronics Inc.: The Garden Grove distributor...

Richey Electronics Inc.: The Garden Grove distributor of electronic components posted net income of $6.5 million, or 70 cents a share, for 1996, up from 1995 net income of $2.9 million, or 36 cents a share, which included a $1.5-million restructuring charge in the fourth quarter. Sales rose 93% to $226.2 million from $117.1 million. Net income for the fourth quarter increased to $1.9 million, or 20 cents a share, from $209,000, or 2 cents a share, a year ago. Sales gained 67% to $55.9 million from $33.4 million.