Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

February 28, 2011

Harvard Bioscience Profits Down, Revenues Up

Holliston life sciences tools company Harvard Bioscience saw its profits fall 42 percent to $2.2 million for the fourth quarter of 2010, compared to the same period in 2009, while revenues rose 6.8 percent.

The Q4 2009 profit benefited from a one-time $2.6-million adjustment of acquisition contingencies.

For the full year, profits rose 26.1 percent to $108,179, and revenues grew 164 percent to $19.1 million. Much of the increase in annual profits came from a shift in tax payments. The company paid $2.7 million in taxes in 2009 but received a tax benefit of $9.5 million in 2010. It attributed the benefit to changes in its valuation allowance, foreign tax-rate differential and increased research and development tax credits.

Sign up for Enews

WBJ Web Partners

0 Comments

Register for free to read more articles.

Register Now

Already have an online account? Login

To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy

Allow Cookies