2023-03-09 07:15:05 ET
- Harvard Bioscience press release ( NASDAQ: HBIO ): Q4 Non-GAAP EPS of $0.04 beats by $0.03 .
- Revenue of $28.4M (-14.2% Y/Y) misses by $1.75M .
- Jim Green, Chairman and CEO, concluded, “Looking to the future, I am excited about our pivot from cost optimization to profitable growth. We completed our previously announced portfolio optimization and related cost actions in Q4. We expect that our recently launched products and anticipated new growth in consumables and services will support 2023 reported revenue growth in the low-to-mid single digits. We expect improving gross margin and significant expansion of adjusted EBITDA margins in 2023. With anticipated improvements in margin and working capital, we plan to pay down debt and reduce our leverage ratio closer to 2 times by year end.”
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Harvard Bioscience Non-GAAP EPS of $0.04 beats by $0.03, revenue of $28.4M misses by $1.75M