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.
Scientific Bioprocessing, Inc. (SBI), a subsidiary of Scientific Industries, Inc. (OTCQB:SCND), has launched the ID·Fiber Optic Kit, an innovative sensing solution that provides real-time, non-invasive monitoring of pH and dissolved oxygen levels in cell cultures. This breakthrough product aims to enhance bioprocessing efficiency, facilitating quicker drug development and improved patient safety. SBI plans to expand its platform further with additional sensing technologies and data analytics tools, marking a significant step towards transforming the bioprocessing 'Black Box' into an accessible system.
Scientific Industries (OTCQB: SCND) reported a net loss of $263,300 for the quarter ending September 30, 2020, compared to a loss of $56,200 in the same period last year. Total revenues increased by 7.6% to $2,156,300, driven by record sales of Benchtop Laboratory Equipment, particularly vortexers and shakers related to COVID-19 research. However, the expansion in Bioprocessing resulted in higher operational losses of $532,300. The Company expects growth from new sensor technologies and a new distribution partner in Canada.
Scientific Industries (OTCQB:SCND) reported a net loss of $703,300 for the year ending June 30, 2020, translating to ($0.46) per share, compared to a net income of $645,600 or $0.43 per share in 2019. Revenues declined by 16% to $8,570,300 due to COVID-19 related order reductions, particularly in Q4. Increased operating expenses were attributed to product development and restructuring costs. However, the company is optimistic about recovery, citing improving revenue trends and demand, and successfully closed a $6.1 million equity capital raise.
Scientific Industries (OTCQB:SCND) is set to engage in a virtual presentation at the October 2020 Lytham Partners Virtual Investor Growth Conference on October 7, 2020, at 4:00 p.m. ET. A webcast will be available on the company's investor relations page and can also be accessed via Lytham Partners' website.
Additionally, management will conduct virtual one-on-one meetings, which can be arranged through Lytham Partners.
Scientific Industries specializes in laboratory equipment and bioprocessing systems, serving various research sectors.