Skip to main content
Premium Trial:

Request an Annual Quote

Harvard Bio s Revenues Increase by 59 Percent, but Losses Double

NEW YORK, March 3 -Harvard Bioscience today reported a 59 percent increase in revenues year-over-year, amid ballooning expenses and net losses.

 

Revenue for the fourth quarter ended December 31, 2002, grew to $18.9 million from $11.9 million in the year-ago period, including favorable foreign exchange effects. Before these effects, the company's revenue increased by 53 percent year-over-year.

 

Total costs and expenses for the company grew to $17.2 million, up from $10.2 million in the fourth quarter of 2001. R&D expenses remained flat, however, at $1.1 million.

 

Harvard Bioscience's net losses more than doubled year-over-year, at $974,000 for the fourth quarter of 2002, compared with $436,000 for the fourth quarter of 2001. Basic and diluted per-share net loss was $0.03 and $0.02 for the fourth quarter of 2002 and 2001, respectively.

 

The company reported $299,000 in charges for non-cash stock compensation for the quarter, compared to $480,000 for the same quarter in 2001; amortization of intangibles of $462,000 for Q4 2002 and $692,000 for Q4 2001, and restructuring charges of $152,000 for Q4 2002 and $460,000 for Q4 2001. Harvard Bioscience reported no goodwill amortization expense in the fourth quarter of 2002, compared to $382,000 in the fourth quarter of 2001.

 

Harvard Bioscience ended the year with cash and cash equivalents of $15.3 million, compared to $29.4 million in the year-ago period.

 

Further details are available here.

The Scan

Mosquitos Genetically Modified to Prevent Malaria Spread

A gene drive approach could be used to render mosquitos unable to spread malaria, researchers report in Science Advances.

Gut Microbiomes Allow Bears to Grow to Similar Sizes Despite Differing Diets

Researchers in Scientific Reports find that the makeup of brown bears' gut microbiomes allows them to reach similar sizes even when feasting on different foods.

Finding Safe Harbor in the Human Genome

In Genome Biology, researchers present a new approach to identify genomic safe harbors where transgenes can be expressed without affecting host cell function.

New Data Point to Nuanced Relationship Between Major Depression, Bipolar Disorder

Lund University researchers in JAMA Psychiatry uncover overlapping genetic liabilities for major depression and bipolar disorder.