BOHEMIA, N.Y., May 16, 2011 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND) reported increases in net income and net sales for both the three and nine month periods ended March 31, 2011, from those for the comparable periods of the prior fiscal year. For the three and nine month periods ended March 31, 2011, net income was $60,200 ($.05 per basic share) on net sales of $1,460,300, and $252,000 ($.21 per basic share) on net sales of $4,747,200, respectively. For the prior year, the Company had a net loss of $6,800 ($.01 loss per basic share) on net sales of $1,137,600 for the three month period and net income of $196,000 ($.16 per basic share) on net sales of $4,209,100, for the nine month period.
The results reflect for both comparable periods increased net sales and net income for the Benchtop Laboratory Equipment Operation and increased net sales for the Catalyst Research Instruments Operation, which incurred losses for both periods.
Ms. Helena R. Santos, CEO, stated that while she expects positive overall results for the current fiscal year, she notes a significantly lower backlog of orders for the Catalyst Research Operation as of March 31, 2011 compared to that of March 31, 2010.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie® 2 Mixer, and produces and sells customized catalyst research instruments. Scientific Industries' products are generally used for research purposes in laboratories of universities, hospitals, pharmaceutical companies, chemical companies, and medical device manufacturers.
The Scientific Industries logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=715
"Statements made in this press release that relate to future events, performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual events, performance or results to materially differ. The Company undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in the Company's Securities and Exchange Commission reports, including our annual report on Form 10-K."
CONTACT: Scientific Industries, Inc. Phone: 888-850-6208 Fax: 631-567-5896 info@scientificindustries.com www.scientificindustries.com
