ICN of Costa Mesa Posts Jump in Income

ICN Biomedicals Inc. of Costa Mesa posted a 43% increase in first-quarter net income, to $942,000 from $661,000 for the comparable period a year ago. The first-quarter 1989 figure included a $273,000 gain from repurchase of debt. Revenue for the 3 months ended Feb. 28, 1989, rose 14%, to $12.9 million from $11.4 million. The company produces and markets research chemicals and related products, including reagents, immunochemicals and instruments for diagnostic testing in clinical laboratories.