BOHEMIA, N.Y., May 15, 2013 (GLOBE NEWSWIRE) -- Scientific Industries Inc. (OTCBB:SCND) reported increases in net income and net sales for the three and nine month periods ended March 31, 2013 as compared with those for the three and nine month periods ended March 31, 2012.
For the three month comparative periods net income increased by $158,300 to $150,100 ($.11 per basic share) from a net loss of ($8,200) ($.01 per basic share) and net sales increased by $106,600 to $1,626,100 from $1,519,500. For the nine month comparative periods, net income increased by $230,500 to $226,300 ($.17 per basic share) from a net loss of ($4,200) ($.00 per basic share) and net sales increased by $596,700 to $4,854,700 from $4,258,000.
Net sales and profit margins increased for the Benchtop Laboratory Equipment and profit margins increased for the Catalyst Research Instruments Operations for both the three and nine month comparative periods. The Catalyst Research Instruments Operations also recorded an increase in net sales for the nine month comparative periods as of March 31, 2013, and noted that its order backlog was $1,340,000 as of March 31, 2013 compared to $850,000 as of March 31, 2012.
About Scientific Industries
Scientific Industries designs, manufactures, and markets a variety of laboratory equipment, including the world-renowned Vortex-Genie® 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."