A Full and Exciting Year for Harvard Bioscience

Harvard Bioscience of Holliston, a global developer, manufacturer and marketer of a range of life sciences equipment, has reported record quarterly revenues of $30.4 million for Q4-2014, an approximate 9.0 percent increase of $2.5 million in comparison to the $27.9 million earned in Q4-2013.

The company stated it was able to significantly improve its operating margins and other key metrics in the final quarter of 2014. “The fourth quarter wrapped up a very fulfilling and exciting year for our company,” President and CEO Jeffrey A. Duchemin said in a statement. According to Duchemin, acquisitions completed last October, combined with a new management philosophy, contributed to the strong finish. Acquisitions included Multi Channel Systems MCS GmbH and Triangle Biosystems Inc.

Combined with their procurement of HEKA Electronik of Germany in the first quarter of 2015, Duchemin expects the new additions to continue to “contribute toward our organic growth as our sales team offers a complete set of electrophysiology solutions to our customers.” He concluded, “In 2014, we put together the building blocks of a solid foundation that we believe will continue to deliver value for our shareholders. We look forward to another great year.”

Income from continuing operations, as measured under U.S. generally accepted accounting principles (GAAP), was a loss of $19,000, or $0.00 per diluted share, for the three months ended Dec. 31, 2014; compared with a loss of $255,000, or $0.01 per diluted share, for the same quarter in 2013. For the year 2014, revenues were $108.7 million, an increase of 3.3 percent, or $3.5 million, from 2013’s results.

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