Welcome to our dedicated page for Scientific Ind news (Ticker: SCND), a resource for investors and traders seeking the latest updates and insights on Scientific Ind stock.
Scientific Industries, Inc. (SCND) develops and markets life science tools centered on DOTS bioprocessing systems, VIVID vision-based pill counters and Torbal weighing products. Company news commonly covers financial results, product development in pharmacy automation and biomanufacturing, customer-use data for DOTS, and AI-enabled features for VIVID pill-counting workflows.
Updates also reflect the company’s completed divestiture of its Genie Division, which refocused continuing operations around Torbal, VIVID and bioprocessing systems. Recurring announcements include quarterly and annual results, investor presentations, conference calls, and product-line developments for laboratories, pharmaceutical companies, hospitals, pharmacies and related research settings.
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Scientific Industries, Inc. (OTCQB:SCND) announced its financial results for the six-month transition period ended December 31, 2022, highlighting a 9% decline in net revenues to $5.2 million compared to the previous year. The company launched its VIVID Lite pill counter and reported a 20% increase in unit sales of the VIVID line. However, gross profit decreased to $2.3 million (44.2% margin) from $2.9 million (50.7% margin) due to the loss of royalty income. Total operating expenses rose slightly to $6.4 million, leading to a net loss of $4.08 million ($0.58 per share). The company underwent a restatement of previous financial statements, clarifying that these adjustments had no impact on cash flows or operations.
Scientific Industries, Inc. (OTCQB:SCND) will present at the Maxim Group's Healthcare IT Virtual Conference on January 25, 2023, at 2:00 p.m. ET. John Moore, the Chairman, will join a panel discussion on Digital Delivery of HC Products & Research Management. Interested attendees can register at m-vest.com.
The company will also participate in the Lytham Partners 2023 Investor Select Conference on January 31, 2023, hosting one-on-one meetings. Contact Lytham Partners for arrangements at 1x1@lythampartners.com.
Scientific Industries (OTCQB: SCND) has launched the VIVID LITE, an affordable automated pill counting product utilizing patented photo optical technology. This device accommodates all pill types, enhances counting accuracy, and is manufactured in the U.S. Additionally, the VIVID ONE has been rebranded and upgraded with a faster counting engine and cloud-based software for pharmacy management. CEO Helena Santos expressed confidence in their transition to a leader in digitally simplified pharmacy solutions, while President Karl Nowosielski highlighted the product's cost-saving benefits for independent pharmacists.