Pacific Scientific Co.: The Newport Beach manufacturer...
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CORONA DEL MAR — Pacific Scientific Co.: The Newport Beach manufacturer of electrical and safety equipment posted a net loss for the first quarter of $10.8 million, or 88 cents a share, which included a one-time charge of $12 million related to the planned sale of its Solium subsidiary’s technology and equipment. Solium has been reclassified as a discontinued operation. For the first quarter of 1996, the company posted net income of $1.9 million, or 15 cents a share. Sales declined 2% to $72.5 million from $74 million.
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