BOHEMIA, N.Y., Sept. 28, 2010 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND), reported yesterday for the year ended June 30, 2010, record net income of $539,700 ($.45 per basic share), an increase of $220,200 (69%) from $319,500 ($.027 per basic share) for the year ended June 30, 2009, and record net sales of $7,070,100, an increase of $1,081,000 (18%) from $5,989,100 for fiscal 2009.
The record results reflect the increase in profits and gross margins of the Benchtop Laboratory Equipment Operations and the profit and gross margins of the Catalyst Research Instruments Operations, which suffered a loss for the prior fiscal year.
Ms. Helena R. Santos, President and Chief Executive Officer, noted that the record results were achieved in the face of the global economic slowdown, but expressed caution as to the current fiscal year operating results, particularly for the Catalyst Research Instruments Operations, which depends in part on funding of customers' projects involving such products.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie® 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.
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"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: Scientific Industries, Inc. Helena Santos 631-567-4700 info@scientificindustries.com
