CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
BOHEMIA, N.Y., May 15, 2017 -- Scientific Industries Inc. (OTCBB:SCND) – The Company reported net income of $65,600 ($.04 per common share) and net income of $62,200 ($.04 per common share) for the three and nine months ended March 31, 2017 compared to net losses of $36,900 ($.02 per common share) and $2,600 ($.00 per common share) for the three and nine months ended March 31, 2016.
Net revenues for the three months ended March 31, 2017 increased by $236,600 (14.1%) to $1,910,900 from $1,674,300 for the three months ended March 31, 2016 primarily due to increased sales of benchtop laboratory products and bioprocessing royalties, while net revenues for the nine months ended March 31, 2017 increased by $1,006,900 (19.6%) to $6,153,800 compared to $5,146,900 for the nine months ended March 31, 2016, due primarily to increased sales of catalyst research instruments. The backlog for catalyst research instruments at the end of the current year quarter decreased to approximately $431,200 compared to $3,027,000 at the end of last year’s same quarter due to a significant overseas order in the prior year.
The increased net income for both periods reflects higher sales and gross margins for the Company’s Benchtop Laboratory Equipment Operations as well as higher royalties from the Bioprocessing Systems Operations, partially offset by lower profit margins for the Company’s Catalyst Research Instruments Operations.
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.
Phone: 888-850-6208 Fax: 631-567-5896 [email protected] www.scientificindustries.com
