Business
Reflect Scientific Inc. Releases Second Quarter 2021 Financials
Reflect Scientific Inc. Releases Second Quarter 2021 Financials.
About this update from Reflect Scientific, Inc.
[{"type":"text","content":"\n OREM, Utah, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Reflect Scientific, Inc. (Symbol: RSCF), a provider of diverse products and services for biotechnology, pharmaceutical, and transportation industries, today announced financial results for the second quarter of 2021. Mr. Boyce, CEO of Reflect Scientific Inc., commented, “Revenues were up second quarter year over year, we kept expenses under control, and our R&D budget has done its job creating new cryogenic products for the marketplace. Our cash position has increased, and spending on R&D is down, giving Reflect the ability to invest in new marketing and sale programs. The pandemic has caused some shipping issues; however, we have addressed them head-on. I am pleased with our second quarter performance.” The following unaudited table summarizes revenue, cost of goods sold, and operating expenses for the three months ended June 30, 2021 and 2020:           Three MonthsEnded June30, 2021Three MonthsEnded June30, 2020Increase(Decrease)Revenue$707,133$502,906 $204,227 Cost of Goods Sold 235,179 122,538  112,641 Gross Profit 471,954 380,368  91,586 Operating expenses:        Salaries and wages 146,116 212,119  (66,003)Research and development expense 19,456 76,772  (57,316)General and administrative expense 133,601 116,920  16,681 Total operating expenses 301,173 405,811  (104,638)         Income (loss) from operations 170,781 (25,443)  196,224          Other income (expense) - (11) 11          Net income (loss)$170,781$(25,454) $196,235           About Reflect Scientific, Inc.Reflect Scientific, Inc., based in Orem, Utah, develops and markets innovative, proprietary technologies in cryogenic cooling for the biotechnology, pharmaceutical, medical, and transportation markets. Among Reflect Scientific’s products are low-temperature freezers and refrigerated systems for laboratory, transportation, and ...