Harvard Bioscience eyes growth after 66% Q2 revenue bump

Holliston medical device maker Harvard Bioscience is hoping to get out of the red as its second quarter revenues of $31.5 million reached an all-time high. 

That mark is a 66-percent increase over the company’s sales over the same period last year. 

For the year, the company’s revenues of $58.3 million represent a 57-percent increase over the first six months of 2017. 

The company is still reporting a net loss of $1.5 million for the quarter and $5.5 million for the year, but its full-year revenues are shaping up to be the highest the company has ever reported at an estimated $120 million to $123 million.

On a per share basis, that’s a net loss of 4 cents per share for the quarter and 15 cents for the year. 

The company’s stock was trading at an increase of more than 7 percent Friday’s morning, good for a market value increase of about $15 million.

The company hasn’t reported a profit since 2014, when it made almost $2.4 million. Profitability may still be further away.

For the year, the company’s net loss of $5.5 million grew from the $1.4 million from the first six months last year. The company is expecting a full-year loss per share of up to 15 cents.