BOHEMIA, NY / ACCESSWIRE / November 13, 2018 / Scientific Industries, Inc. (OTCQB: SCND) - For the three months ended September 30, 2018, the Company reported net income of $142,000 ($.10 per basic share) compared to a net loss of $232,600 ($.16 loss per basic share). The Company reported revenues of $2,038,600 compared to revenues of $1,280,800 for the three months ended September 30, 2018 and 2017, respectively.
During the current period, revenues increased by $757,800 (59%). The increase in revenues was primarily a result of increases in sales of benchtop laboratory equipment, catalyst research instruments, and bioprocessing systems royalties, of $492,500, $188,800 and $76,500, respectively. The backlog for catalyst research instruments as of September 30, 2018 was approximately $329,400 compared to $323,900 at September 30, 2017. The current backlog is expected to ship during fiscal year ending June 30, 2019.
"This was an encouraging start for our new fiscal year. Order rates and order backlog remains healthy despite the current global challenges related to trade and its potential effects," commented Ms. Santos, President and CEO of the Company.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-GenieÒ 2 Mixer and balances; produces and sells customized catalyst research instruments and the research, development and production of bioprocessing systems and methods. Scientific Industries' products are generally used and designed for research purposes in laboratories of universities, hospitals, pharmaceutical companies, chemical companies, and medical device manufacturers.
"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:
Phone: 888-850-6208
Fax: 631-567-5896
info@scientificindustries.com
www.scientificindustries.com
Scientific Industries, Inc.
80 Orville Drive, Suite 102
Bohemia, New York 11716 USA
SOURCE: Scientific Industries, Inc.
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