Harvard Bio reports 7% sales rise in second quarter
(UPDATED Friday, July 31 to correct company name) Holliston-based Harvard Bioscience reported Thursday that the second quarter of 2015 saw revenue rise to $28.8 million.
The revenue was about 7 percent higher than the year-earlier quarter’s $27.0 million, despite foreign exchange conditions, the company said.
Net income, as measure under generally accepted accounting principles (GAAP), was $0.3 million, or a penny per share, for the quarter. The figures for the second quarter of 2014 were $1 million, or 3 cents a share. On a non-GAAP basis, the company reported, net income was $1.6 million, or 5 cents a share. The figures for the second quarter of 2014 were $1.9 million, or 6 cents per share.
President and CEO Jeffrey A. Duchemin said in the statement the results highlight the company’s “ability to execute on our long-term strategy. … In particular, sales from our electrophysiology product lines produced strong results, and China sales contributed to the top-line growth.”
Harvard Bioscience reaffirmed the updated financial guidance for the full year 2015 issued on April 30. It continues to expect revenues to be in the range of $110 million to $112 million.
(CORRECTION: The original version of this article misidentified the company's name.)
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