On 06 Dec 2019, Harvard Bioscience, Inc. (NASDAQ: HBIO) stock observed trading -36.91% off 52-week high price. On the other end, the stock has been noted 94.70% away from low price over the last 52-weeks. The stock disclosed a move of 2.39% away from 50 day moving average and 1.26% away from 200 day moving average. Moving closer, we can see that shares have been trading 2.49% off 20-day moving average.
Harvard Bioscience, Inc. (HBIO) recently reported financial results for the three and nine months ended September 30, 2019.
The Company stated revenue of $27.4M for the third quarter of 2019, with an operating loss of $(1.4M) and EPS of $(0.07). On an adjusted basis, gross margin was 55.6%, operating income measured $3.3M or 12.1% of sales, and adjusted diluted EPS was $0.04. Cash flow from operations for the nine months ended September 30, 2019 was $5.8M contrast to $0.3M for the comparable previous year period.
Jim Green, Chairman and CEO stated, “We are executing on our planned priorities. In spite of Q3 revenue continuing at a slower pace, adjusted operating margin improved by 90 basis points, all while taking initial actions designed to meet the targets outlined for next year’s profitability and growth. As revenue headwinds annualize in the first half of next year, we expect improvements in sales effectiveness combined with product improvements to yield organic growth in line with our published targets.”
Green continued, “Cellular and Molecular Technologies related products saw continued organic growth in our CRISPR related applications and in precision infusion pumps. North America and APAC sales grew, while EMEA declined on timing of large equipment sales, resulting in a modest decline in organic revenue globally for the product family.”
Third Quarter Stated Results
Revenue for the three months ended September 30, 2019 was $27.4M, a decrease of 4%, or $1.2M, contrast to revenue of $28.6M for the three months ended September 30, 2018.
Operating loss for the three months ended September 30, 2019 was $(1.4)M, a decrease of $2.3M, contrast to operating income of $0.9M for the three months ended September 30, 2018. The operating loss for the period included $2.2M of costs associated with the CEO transition in July 2019 and initial site and product line consolidation activities aligned with profitability initiatives reported in September 2019.
Adjusted operating income was $3.3M for the three months ended September 30, 2019, a raise of about 4%, or $0.1M, contrast to $3.2M for the three months ended September 30, 2018. The increase in adjusted operating income was the result of improved product mix coupled with strong cost management, over offsetting the impact of lower revenue.
Net loss was $(0.07) per share for the three months ended September 30, 2019, contrast to a net loss of $(0.01) per share for the same quarter in 2018.
Adjusted diluted earnings per share was $0.04 for the three months ended September 30, 2019, same as the three months ended September 30, 2018.
The USA based company Harvard Bioscience, Inc. moved with change of -1.67% to $2.94 with the total traded volume of 64685 shares in recent session versus to an average volume of 134.1K. HBIO’s shares are at 6.91% for the quarter and driving a -20.97% return over the course of the past year and is now at -7.55% since this point in 2018. Right now, the stock beta is 1.49. The average volatility for the week and month was at 5.17% and 6.82% respectively. There are 38.07M shares outstanding and 32.48M shares are floated in market.