Meade Instruments Corp.: The Irvine designer and...

Meade Instruments Corp.: The Irvine designer and manufacturer of telescopes and accessories reported a net loss of $3 million, or 84 cents a share, for the fiscal year ended Feb. 28, which included a one-time charge of $4.3 million. In the previous year, the company earned $1.6 million, or 34 cents a share. Sales advanced 58% to $47.2 million from $29.8 million. A net loss of $4 million, or $1.06 a share, was recorded for the fourth quarter, contrasted with net income of $77,000, or 2 cents a share, for the like period last year. Sales rose 30% to $8.2 million from $6.3 million. The company completed its initial public offering in April.