Announces Preliminary Quarterly Revenue and Outlook for Fiscal Year - To Present Tomorrow at the 15 TH Annual ICR XChange ConferenceGREENVILLE, SC, Jan. 16, 2013 /PRNewswire/ - SCIO Diamond Technology Corporation (OTCBB: SCIO) today announced a business update, including preliminary third quarter fiscal year 2013 (FY13) sales results and its outlook for the fourth quarter. The company will present a company update at the 15th Annual ICR XChange Conference to be held in Miami, Florida at the Fontainebleau Hotel. Estimated FY13 Financial Results (unaudited) and Outlook
Scio expects to report third quarter FY13 revenue of approximately $550,000.
Scio expects fourth quarter FY13 revenue of approximately $650,000 to $725,000.
Scio expects full-year FY13 revenues of approximately $1,260,000 to $1,330,000.
Conference Presentation The Company's presentation at the 15th Annual ICR XChange will begin at 1:10 p.m. Eastern Time on Thursday, January 17, 2013. Chief Executive Officer Steve Kelley will be speaking at the conference in the Glimmer Ballroom 3 & 4. Mr. Kelley will also host two question-and-answer sessions, at 9:15 am EST and 11:30 am EST at Table E4 in the Fontaine Fleur De Lis breakout room. Mr. Kelley will also be available for private meetings throughout the day. A live webcast of the presentation will be available in the Investor Relations area of the Company's website at http://www.sciodiamond.com. A replay of the webcast will be accessible at the same location. The ICR XChange is one of the leading consumer-oriented investment conferences. Over the course of three days, more than 150 companies will present to over 1500 attendees, including buy- and sell-side analysts, the private equity community, the media, select investment banks, law firms and consultants. This event each year sets the tone for industry developments in the coming twelve months.