This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

HBIO Reports Fourth Quarter 2012 Results

Stocks in this article: HBIO

HOLLISTON, Mass., Feb. 28, 2013 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc. (Nasdaq:HBIO), a global developer, manufacturer, and marketer of a broad range of tools to advance life science research and regenerative medicine, today reported unaudited financial highlights for the fourth quarter and full year ended December 31, 2012.

Fourth Quarter Reported Results from Continuing Operations

Revenues from continuing operations were $28.2 million for the three months ended December 31, 2012 which was within the guidance range of $28-$30 million provided by management. Fourth quarter revenues were down approximately 2.7% compared to the same period in 2011. Currency exchange rates had a favorable 0.2% effect on revenues in the fourth quarter of 2012 compared with the fourth quarter of 2011. The Company's acquisition of AHN Biotechnologie GmbH ("AHN") in February 2012 had a positive 1.6% effect on revenues in the fourth quarter of 2012 compared to the fourth quarter of 2011. Excluding the effects of currency exchange rates and acquisitions, the Company's fourth quarter revenues were down 4.5% compared to the same period in the previous year.

Net income from continuing operations, as measured under U.S. generally accepted accounting principles ("GAAP"), was $0.4 million or $0.01 per diluted share compared to $0.7 million or $0.02 per diluted share for the same period in 2011. This year-to-year decrease was mainly due to increased spending in the Company's development-stage Regenerative Medicine Device ("RMD") business.

Core Life Science Research Tools Results

Non-GAAP adjusted earnings per share from continuing operations for our core Life Science Research Tools business ("LSRT") for the fourth quarter of 2012 was $0.10 per diluted share, flat with the fourth quarter of 2011.

Regenerative Medicine Device Results

Non-GAAP adjusted earnings per share from continuing operations for our developmental stage RMD business for the fourth quarter of 2012 was a loss of $0.04 per diluted share, compared with a loss of $0.03 per diluted share for the fourth quarter of 2011, and reflected greater activities in developing this initiative.        

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs