Gish Biomedical Inc., a developer and manufacturer...

Gish Biomedical Inc., a developer and manufacturer of critical-care and surgical devices, reported that net income for fiscal 1989 declined 18%, to $983,000 from $1.2 million last year. The fiscal 1988 figure included an extraordinary tax credit of $383,000. Sales for the year ended June 30 rose 20%, to $14.9 million from $12.5 million.

For the fourth quarter, net income dropped 29%, to $329,000 from $464,000 for the comparable three months last year. Included in the previous year’s figure was $193,000 from an extraordinary tax credit. Sales were up 20%, to $4 million from $3.4 million. Jack Brown, president of Gish, attributed the Santa Ana-based company’s sales growth to increases in cardiovascular surgery caseloads, expanded marketing and Gish’s product designs and service.