DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
FTC Praises Instacart for Ending AI Pricing Tests After $60M Settlement 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
California DMV Proposes New Safety Rules for Autonomous Vehicles After Waymo Incidents 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
Star Entertainment Leadership Shake-Up Deepens as CFO and COO Exit Amid Ongoing Restructuring 
Winter Storm Disrupts Northeast Travel as Snow and Ice Blanket New York, New Jersey 
China’s LandSpace Takes Aim at SpaceX With Reusable Rocket Ambitions 
Brazilian Oil Workers’ Strike Continues as Key Petrobras Union Rejects Proposal 
Hyundai Recalls Over 51,000 Vehicles in the U.S. Due to Fire Risk From Trailer Wiring Issue 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
BlackRock-Backed Global Ports Deal Faces Uncertainty Amid Cosco Demands 
Winter Storm Devin Triggers Massive Flight Cancellations and Travel Disruptions Across the U.S. 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
BOHEMIA, N.Y., Nov. 14, 2016 -- For the three months ended September 30, 2016, Scientific Industries Inc. (OTCBB:SCND) reported a net loss of $48,800 ($.03 loss per basic share) on net sales of $1,559,100, compared to a net loss of $60,100 ($.04 loss per basic share) on net sales of $1,444,500 for the three months ended September 30, 2015.
During the same period, revenues increased by $114,600. The increase in revenues was primarily a result of a $193,800 increase in benchtop laboratory equipment sales offset by decreases in sales of catalyst research instruments, and bioprocessing revenues of $75,500 and $3,700, respectively.
The backlog for catalyst research instruments at the end the current year quarter was approximately $1,167,000 compared to $2,944,000 at the end of last year’s same quarter. The Company expects to ship the majority of its current backlog during fiscal year 2017.
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 [email protected] www.scientificindustries.com
