BOHEMIA, N.Y., Feb. 13, 2015 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB: SCND ) -- The Company reported a net loss of $138,000 ($.09 per basic share) on net sales of $1,691,100, for the three months ended December 31, 2014; and a net loss of $299,300 ($.20 per basic share) on revenues of $3,353,200 for the six-month period ended December 31, 2014.
For the same three and six month periods of the prior year, the Company reflected net income of $135,100 ($.10 per basic share) on revenues of $1,747,800 and net income of $137,200 ($.10 per basic share) on revenues of $3,183,900.
The results reflected increased amounts of depreciation and amortization, primarily related to the asset acquisition of the Torbal division of its Benchtop Laboratory Equipment Operations, of $110,000 and $220,100 compared to $44,300 and $88,500 for same periods last year. The Company's catalyst research instruments operations had an order backlog as of December 31, 2014 of $949,000 compared to $1,063,900 as of December 31, 2013, and as of December 31, 2014, and the Benchtop Laboratory Equipment Operations had an order backlog as of December 31, 2014 of $600,000 due to production delays caused by the Bohemia, New York facility move and increased orders.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie® 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."
Phone: 888-850-6208 Fax: 631-567-5896 www.scientificindustries.com
