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Harvard Bioscience Posts Increased Revenues, Income for Q4

NEW YORK, March 3 (GenomeWeb News) - Harvard Bioscience yesterday reported increased revenues and earnings for the last quarter of 2003.


Revenues increased to $24.2 million, up from $18.9 million during the same period in 2002.


R&D expenses were $1.6 million, up from $1.1 million for the year-ago period.


Harvard Bioscience's net income for the quarter was $1.8 million, or $.06 per share, up from a net loss of $1 million, or $.03 per share, during the last quarter of 2002.


As of Dec. 31, the company had $8.2 million in cash and cash equivalents.


Harvard Bioscience also said it has closed down its Genomic Solutions sales office in Japan this year, using its current distributor instead. The company acquired Genomic Solutions in 2002.

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