BOHEMIA, N.Y., Nov. 15, 2010 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND) reported net income of $2,200 ($.00 per basic share) on net sales of $1,255,500 for the three months ended September 30, 2010 compared to net income of $43,500 ($.04 per basic share) on net sales of $1,244,000 for the three months ended September 30, 2009. The reduction in net income between the three month comparative periods was primarily due to the lower gross margins of the Company's Catalyst Research Instruments Operations.
Ms. Helena R. Santos, CEO, stated that while the operating results, particularly for the Catalyst Research Instruments Operations, may have been affected by the general economic slowdown, she notes the satisfactory results of the Company's Benchtop Laboratory Operations for the three months ended September 30, 2010, and an order backlog for catalyst research instruments of $692,000 as of September 30, 2010, all of which is expected to be shipped in the current fiscal year.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie(R) 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."