Reflect Scientific Inc. Releases Second Quarter 2021 Financials

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, 2021		Three MonthsEnded June30, 2020			Increase(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 computer server room uses. Visit www.reflectscientific.com for more information. See us on Twitter @ReflectSci and LinkedIn www.linkedin.com/company/reflect-scientific.

Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of the Company that are contained in the OTC Markets Group, LLC under the trading symbol “RSCF” and related prior filings by the Company that are referenced therein and contained in the EDGAR Archives of the Securities and Exchange Commission under the heading “Disclosure,” including those identified in such filings as “forward-looking statements.”

Contact
Thomas Tait
801-607-1039
[email protected]

Source: Reflect Scientific Inc.

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