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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: hotlinktuna who wrote (12406)	9/18/2002 11:13:41 AM
From: Dave Gore	Read Replies (1) of 16631

Tuna, there was a HBIO warning, lower gross margins, and downgrade. This may need a couple days. Not wild about the new "ProForma" earnings estimates. We might get a test of 2.00. Definitely one to watch though! Reuters Company News Harvard Bioscience warns of flat third quarter Tuesday September 17, 7:13 pm ET HOLLISTON, Mass., Sept 17 (Reuters) - Drug research equipment maker Harvard Bioscience Inc. (NasdaqNM:HBIO - News) warned on Wednesday that its third quarter earnings will be flat due to slower-than-expected adoption of new technology and weak international sales. The Holliston, Massachusetts-based company said it still expects third quarter revenue to grow 15 percent to 20 percent from the year-earlier quarter. Full-year revenue was projected to be $56 million to $58 million, while full-year pro forma earnings per share were projected in the range of 19 cents to 21 cents range. For 2003, Harvard Bioscience said it anticipates revenue in the range of $75 million to $80 million. The company said it introduced in September its COPAS systems for "Biology on a Bead," which can screen over 1 million compounds per day for pharmaceutical activity, but adoption of the technology has fallen short of expectations. The company said it is launching other new products to drive growth and has taken actions to reduce expenses such as consolidating certain operations and restructuring a unit to bring its expenses more in line with its current rate of business.

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