BOHEMIA, N.Y., Feb. 14, 2014 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND), reported net income of $135,100 ($.10 per basic share) on net sales of $1,747,800, for the three months ended December 31, 2013, and net income of $137,200 ($.10 per basic share) on net sales of $3,183,900 for the six month period ended December 31, 2013.
Net income for the three months ended December 31, 2013 decreased by $3,300 from net income of $138,400 ($.10 per basic share) for the comparable period last year, while net income for the six months ended December 31, 2013 increased by $61,000 from net income of $76,200 ($.06 per basic share) for the comparable period last year. Net sales for the three months ended December 31, 2013 decreased by $129,100 from $1,876,900 for the comparable period last year, while net sales for the six months ended December 31, 2013 decreased by $44,700 from $3,228,600 for the comparative 2012 six month period.
The results principally reflect decreased sales of catalyst research instruments for both periods, partially offset by increased sales and profits of bioprocessing products resulting from a single order for prototype product which had minimal costs associated with it. The Catalyst Research Instruments Operations currently has an order backlog of $1,063,900 compared to $1,452,300 as of December 31, 2012.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie(R) 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.
"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."