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Harvard Bio Stock Regains Lost Ground From Tumble Following Last Week s Q3 Report

Nov 03, 2004

NEW YORK, Nov. 3 (GenomeWeb News) - Shares in Harvard Bioscience closed up 6.56 percent on Wednesday, regaining ground lost since the company released lackluster revenue growth on Oct. 29.

 

The firm's shares closed up at $4.20 on the Nasdaq exchange, eclipsing the closing price for its shares just before it released its Q3 results on Oct. 29. The third-quarter earning sreport caused the company's shares to tumble 

more that 9 percent to close $3.70 on Oct. 29 from $4 the day before.

 

Last week, Harvard said its poorly performing Genomic Solutions unit acted as ballast on third-quarter revenue. The firm posted Q3 revenue of $23.2 million, up from $21.1 million in the comparable period a year ago. Harvard also lowered by $2.2 million its revenue outlook for the fourth quarter.

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