Unassociated Document Kewaunee Scientific Announces Higher Third Quarter Sales and Earnings and Quarterly Dividend Exchange: NASDAQ (KEQU) Contact: D. Michael Parker 704/871-3290 STATESVILLE, NC

Scientific Announces

Third Quarter Sales and Earnings

NC, February 26, 2009-Kewaunee Scientific Corporation (NASDAQ: KEQU) today

announced results for its third quarter ended January 31, 2009.

earnings for the quarter increased to $882,000, or $0.35 per diluted share, up

10% from $802,000, or $0.31 per diluted share, in the same period last year.

Earnings benefited from the higher sales volume, solid operational performances

throughout the Company, and the stabilization of costs for key raw materials and

energy. Net earnings for the nine months ended January 31, 2009 were $3,327,000,

or $1.30 per diluted share, up 24% from net earnings of $2,688,000, or $1.05 per

diluted share, in the same period last year.

the quarter were $26,023,000, up 19% over sales of $21,883,000 in the same

period last year. Sales benefited from continuing higher levels of new orders

and the record order backlog. Sales for the nine months ended January

31, 2009 were $79,150,000, up 17% from sales of $67,394,000 in the same period

from domestic operations during the quarter were $22,498,000, up 27% from the

same period last year. Domestic sales for the nine months ended January 31, 2009

were $67,296,000, an increase of 21% from the same period last year. Sales from

international operations were $3,525,000, down 17% from the same period last

year. The decline resulted primarily from a softer Singapore laboratory

furniture market. International sales for the nine months ended January 31, 2009

were $11,854,000, up 2% from the same period last year.

backlog at January 31, 2009 was $60.7 million, up from $58.8 million at January

31, 2008, and down slightly from $61.6 million at the end of the previous

quarter. The domestic marketplace for laboratory furniture products

provided an extremely high number of opportunities during the quarter, and the

Company had one of the strongest quarters of quotation activity in its history.

Although some slowing of activity in the Asian laboratory marketplace was noted

during the quarter, the Company closed two significant orders in Asia that added

to the order backlog.

Company's financial condition continues to be strong. Bank borrowings and

capital lease obligations were $6,318,000 at January 31, 2009, up from

$4,243,000 at January 31, 2008, with the increase primarily the result of

receivables associated with the increase in sales. Cash on hand was $3,089,000,

as compared to $2,882,000 at the end of the same period last year. Working

capital was $17,749,000 at the end of the quarter, up from $14,671,000 at the

end of the same period last year.

pleased with the Company's strong performance during the third quarter," said

William A. Shumaker, President and Chief Executive Officer. "Our

strategic efforts over the past several years to make Kewaunee a more efficient

Company are working well. We have not yet noticed any significant

impact from the global economic slowdown on our business or opportunities in the

domestic laboratory furniture marketplace, but we remain keenly aware of this

serious situation. We are diligently pursuing a number of

strategies that will help position the Company in case of an economic downturn

in our industry and, at the same time, make the Company even stronger when the

believe the Company is on track for a good fourth quarter. Sales

should benefit from our strong order backlog, and earnings should benefit from

lower costs for some of our key raw materials and our on-going cost reduction

activities. We expect aggressive competitive pricing will continue, and probably

accelerate, in the coming months."

Company also announced today that its Board of Directors approved a cash

dividend of eight cents per outstanding share to stockholders of record at the

close of business on March 12, 2009, payable on March 26, 2009.

Scientific Corporation is a recognized leader in the design, manufacture, and

installation of scientific and technical furniture. The Company's corporate

headquarters and domestic manufacturing facilities are located in Statesville,

North Carolina. The Company has subsidiaries in Singapore and

Bangalore, India that serve the Asian and Middle East

markets. Kewaunee Scientific's website is located at

http://www.kewaunee.com.

statements 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

Statements of Operations

thousands, except per share data)

Consolidated Balance Sheets