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Kewaunee Scientific Reports Sales and Earnings for First Quarter
Date:8/24/2010

ements in this release constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, economic, competitive, governmental, and technological factors affecting the Company's operations, markets, products, services, and prices.Consolidated Statements of Operations [unaudited]
(in thousands, except per share data)Three Months EndedJuly 31

July 312010

2009Net sales

$24,858

$26,249Cost of products sold

19,859

20,485Gross profit

4,999

5,764Operating expenses

3,901

3,966Operating earnings

1,098

1,798Interest expense

(45)

(41)Earnings before income taxes

1,053

1,757Income tax expense

329

589Net earnings

724

1,168Less: net earnings attributable tothe noncontrolling interest

(67)

(97)Net earnings attributable toKewaunee Scientific Corporation

$657

$1,071Net earnings per share attributable toKewaunee Scientific Corporation stockholdersBasic

$0.26

$0.42Diluted

$0.25

$0.42Weighted average number of commonshares outstandingBasic

2,573

2,556Diluted

2,578

2,558Condensed Consolidated Balance Sheets
(in thousands)July 31

April 302010

2010Assets

[unaudited]Cash and cash equivalents

$1,812

$1,722Restricted cash

521

544Receivables, less allowances

27,425

26,169Inventories

8,226

8,350Prepaid expenses and other current assets


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SOURCE Kewaunee Scientific Corporation
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