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Scientific Industries Reports Improved Results For December 31, 2012

Stocks in this article: SCND

BOHEMIA, N.Y., Feb. 15, 2013 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND), reported net income of $138,400 ($.10 per basic share) on net sales of $1,876,900, for the three months ended December 31, 2012, and net income of $76,200 ($.06 per basic share) on net sales of $3,228,600 for the six month period ended December 31, 2012.

Net income for the three months ended December 31, 2012 increased by $193,700 from a net loss of $55,300 ($.04 per basic share) for the comparable period last year, while net income for the six months ended December 31, 2012 increased by $72,200 from net income of $4,000 ($.00 per basic share) for the comparable period last year. Net sales for the three months ended December 31, 2012 increased by $679,300 from $1,197,600 for the comparable period last year, while net sales for the six months ended December 31, 2012 increased by $490,100 from $2,738,500 for the comparative 2011 six month period. 

The results principally reflect increases in sales by both the Benchtop Laboratory Equipment Operations and the Catalyst Research Instruments Operations, which currently has an order backlog of $1,452,300 compared to $995,000 as of December 31, 2011.

About Scientific Industries

Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie Ò 2 Mixer; produces and sells customized catalyst research instruments and since November 2011 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.

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: Phone: 888-850-6208
         Fax: 631-567-5896
         info@scientificindustries.com
         www.scientificindustries.com

Scientific Industries

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