Harvard Bioscience Q1 revenue falls 18% to $24.5M; posts GAAP net loss of $4.7M

HARVARD BIOSCIENCE INC

2024-Q1 EPS reported -$0.11 revenue$24,512,000

Revenue $24.5M, down 18% YoY from $30.0M; gross margin 60.3% vs 61.2%.
GAAP net loss $4.7M ($0.11 loss per share) vs net income $0.6M ($0.01 EPS) a year ago.
Adjusted operating income $1.2M, down from $4.4M; adjusted EBITDA $1.6M, down from $4.8M.
CEO cites APAC market headwinds and strong prior-year comp; cost reduction initiative announced post-quarter.
Expects solid growth in second half aided by new product launches and Chinese stimulus.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HARVARD BIOSCIENCE INC reported first quarter ended March 31, 2024 results: revenue $24.5, net income $(4.7), EPS $(0.11) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $24.5
Net income: $(4.7)
EPS: $(0.11) per diluted share
Result: reported results

Exact text from the filing

continue to expect solid growth in the second half.” Financial Results Summary Three Months Ended March 31, (unaudited, $ in millions except per share data) 2024 2023 Revenues $ 24.5 $ 30.0 Gross margin 60.3 % 61.2 % Operating (loss) income (GAAP) $ (2.3 ) $ 1.7 Adjusted operating income $ 1.2 $ 4.4 Net (loss) income (GAAP) $ (4.7 ) $ 0.6 Diluted (loss)

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Source: SEC EDGAR

accession 0001171843-24-002591

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