'Fulfilling, exciting' year for Harvard Bioscience
Harvard Bioscience of Holliston reported record quarterly revenues of $30.4 million in the fourth quarter of 2014.
The company, which makes life sciences equipment and instruments, said Thursday it significantly improved its operating margins and other key metrics in the quarter compared with the fourth quarter of 2013.
“The fourth quarter wrapped up a very fulfilling and exciting year for our company,” President and CEO Jeffrey A. Duchemin said in a statement. He said acquisitions completed last October – of Multi Channel Systems MCS GmbH and Triangle BioSystems Inc. – contributed to the strong bottom line.
Duchemin added that the newly acquired companies, combined with its acquisition of HEKA Electronik of Germany in the first quarter of 2015“ further contribute toward our organic growth as our sales team offers a complete set of electrophysiology solutions to our customers.”
Revenues for the three months that ended Dec. 31 were $30.4 million, an increase of approximately 9.0 percent, or $2.5 million in comparison to revenues of $27.9 million for the fourth quarter of 2013.
Income from continuing operations, as measured under U.S. generally accepted accounting principles, was a loss of $19,000, or $0.00 per diluted share, for the three months ended Dec. 31, 2014; compared with a loss of $255,000, or $0.01 per diluted share, for the same quarter in 2013.
For the year 2014, revenues were $108.7 million, an increase of 3.3 percent, or $3.5 million, from 2013’s results.
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