Harvard Bioscience Q2 revenue $28.8M; adj. op. income up to $3.6M; guides FY23 $116-120M

HARVARD BIOSCIENCE INC

2023-Q2 EPS reported -$0.01 revenue$58,734,000

Q2 revenue $28.8M (-1% YoY) as discontinued product headwinds ($1.6M) offset new product growth.
GAAP op. income $0.8M (prior year included $4.9M litigation reversal); adj. op. income rose to $3.6M from $3.1M.
Net loss $1.0M ($0.02 loss/share) vs. net income $2.4M; adjusted EPS $0.04 vs. $0.05.
H1 cash from ops $5.4M; net debt reduced $5.4M YTD to $37.8M.
FY2023 guidance: revenue $116-120M, gross margin ~60%, adj. EBITDA margin 15-17%, net leverage ~2x.

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