BOHEMIA, N.Y., Nov. 13, 2015 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND) – For the three months ended September 30, 2015, the Company reported a net loss of $60,100 ($.04 loss per basic share) on net sales of $1,444,500, compared to a net loss of $161,300 ($.11 loss per basic share) on net sales of $1,662,100 for the three months ended September 30, 2014.
Revenues decreased by $217,600 primarily as a result of a decrease of $398,100 in sales of catalyst research instruments for the quarter, partially offset by a $176,600 increase in benchtop laboratory equipment sales. The decreased loss was primarily due to the higher sales and margins generated by the Benchtop Laboratory Equipment Operations which produced income for the segment compared to a loss last year.
The backlog at the end the quarter for catalyst research instruments was approximately $2,944,000, the majority of which is expected to be shipped during fiscal year 2016 compared to $439,500 at the end of last year’s same quarter.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie(R) 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.”