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Harvard Bioscience s Q4 Revenues Lurch 2.4 Percent as Profit Turns to Loss

NEW YORK, March 3 (GenomeWeb News) - Harvard Bioscience reported yesterday a 2.4-percent increase in revenues and an 8.9-percent loss for the fourth quarter.

 

Revenues for the three months ended Dec. 31, 2005,inched up to 17.8 million from $17.4 million in the year-ago period.

 

R&D expenses for the fourth quarter decreased 2 percent to $700,000 from $875,000 in Q4 2004.

 

Harvard Bioscience posted an $8.9-million loss in the current fourth quarter compared with a $1.1-million profit year-over-year.

 

According to CEO Chane Graziano, Harvard Bioscience expects to generate revenues between $16.5 million and $17 million for the first quarter of 2006. For the full year 2006, the company expects to generate revenue between $70 million and $72 million.

 

As of Dec. 31, Harvard Bioscience had about $7.6 million in cash and cash equivalents.

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