Meade Instruments Corp.:

The Irvine designer and manufacturer of telescopes, binoculars and accessories reported that net income for the fourth quarter climbed 96% to a record $899,000, or 12 cents a share, from $459,000, or 6 cents a share, for the same period last year. Sales for the quarter ended Feb. 29 rose 47% to $21.8 million.

Net income for the year totaled a record $12 million, or $1.60 a share, more than double the $5.6 million, or 80 cents a share, posted last year. Sales increased 66% to $126.8 million.

The company said its lower-priced computer-controlled telescopes and accessories, which were introduced during the year, helped boost the financial results.