Scientific Industries Reports Earnings Per Share Doubled In First Quarter


BOHEMIA, N.Y., Nov. 10, 2004 (PRIMEZONE) -- Scientific Industries, Inc. (OTCBB:SCND) reported today that based on unaudited results, earnings per share increased to $.06 per share on net income of $58,600 for the three months ended September 30, 2004 compared to $.03 per share for the first quarter of the year earlier on net income of $30,000, an increase of $28,600, due to lower operating expenses.

Net sales for the first quarter of the year were $851,800, $22,100 (2.5%) lower than $873,900 for the comparable quarter last year. The reduction in net sales was attributable mostly to slightly lower overseas sales during the quarter.

Sales of new products continued to grow for the three months ended September 30, 2004, to $158,900 from $134,800 for the comparable quarter last year, registering an increase of approximately 18% over the prior year period.

About Scientific Industries

Scientific Industries manufactures and markets laboratory equipment, including the world-renowned Vortex-Genie(r) 2 Mixer. Scientific's products are used by research laboratories, clinics, pharmaceutical manufacturers, medical device manufacturers, and other industries.

"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-KSB."

The Scientific Industries company logo can be found at: http://media.primezone.com/prs/single/?pkgid=715





              SCIENTIFIC INDUSTRIES, INC. AND SUBSIDIARY
            UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

                               ASSETS

 September 30, 2004

 Current Assets                                         $2,258,800
 Property and Equipment, Net                               151,700
 Deferred Taxes                                             25,500
 Other and Intangible Assets                                81,500
                                                        ----------
   Total Assets                                         $2,517,500
                                                        ==========

                  LIABILITIES AND SHAREHOLDERS' EQUITY

 Current Liabilities                                    $  291,100
 Deferred Compensation                                      34,100
 Shareholders' Equity                                    2,192,300
                                                        ----------
   Total Shareholders' Equity & Liabilities             $2,517,500
                                                        ==========


                       SCIENTIFIC INDUSTRIES, INC.
          UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

                                    For the Nine Month
                                       Periods Ended
                                       September 30,
                                    2004                2003
                                    ----                ----
 Net Sales                        $851,800             $873,900
                                  --------             --------
 Gross Profit                      393,800              409,000
                                  --------             --------
 Operating Expenses                323,800              366,600
                                  --------             --------
 Income from Operations             70,000               42,400

 Interest and Other Income           6,600                2,600
                                  --------             --------
 Income Before Income Taxes         76,600               45,000

 Income Taxes                       18,000               15,000
                                  --------             --------
 Net Income                      $  58,600             $ 30,000
                                 =========             ========

 Basic Earnings
   per Common Share:               $  .06               $  .03

 Diluted Earnings
   per Common Share:               $  .06               $  .03

 Cash Dividends Declared
   Per Common Share                $  .07               $  .-

  Weighted average number of outstanding shares:
    Basic                         975,541              960,541
    Diluted                     1,044,679              989,500


            

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