Harvard Bioscience Q2 revenue flat, cuts workforce; guides to 1-5% growth and 13-14% op margin

HARVARD BIOSCIENCE INC

2022-Q2 EPS reported -$0.11 revenue$57,986,000

Q2 revenue flat at $29.2M; GAAP operating income $4.0M includes $4.9M litigation benefit.
Adjusted operating income $3.1M vs $4.3M YoY; adjusted EPS $0.05 vs $0.06.
Gross margin improved to 58% from 57%.
Company discontinuing non-strategic products and cutting ~5% of global workforce.
FY2022 guidance: 1-5% reported revenue growth; adjusted operating margin 13-14%.

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