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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: SnowShredder who wrote (465)	3/7/2001 1:36:59 PM
From: tuck	Read Replies (1) \| Respond to of 1784

Help! There's never a lab scientist around when you need one. PB, Doc Voodoo, tommysdad, etc. have been seen posting elsewhere, but won't respond to queries from poor Trickle. Is it the performance? My breath? WHG, have you heard of Harvard Bioscience (HBIO)? Know anyone that uses their stuff? There's sure plenty of it, and they seem to have good distribution channels. HBIO crushed estimates of a penny last quarter, but the stock is below its IPO price now. Lock-up expiration isn't until early summer. Trickle notes no revisions have been made to future estimates and is tempted. Putting it in the Watchlist, and am likely to buy a some if no one stops me. I gotta go soon (unless it starts raining again), but if the CC is still available, I'll have a listen to see if there's any guidance. >>HOLLISTON, Mass., Feb 22, 2001 /PRNewswire via COMTEX/ -- Harvard Bioscience, Inc. (Nasdaq: HBIO chart, msgs) today reported record revenues for the year and the quarter ended December 31, 2000. Revenue for the fourth quarter of 2000 grew 18% before unfavorable foreign exchange effects. Including foreign exchange effects revenue for the fourth quarter was $8.5 million compared to $7.7 million for the same period in 1999. Pro forma net income for the fourth quarter increased 32% to $1.0 million ($0.05 per share on a diluted basis) from $0.8 million ($0.04 per share on a diluted basis) for the same period in 1999. Revenue for the year ended December 31, 2000 grew 22% before unfavorable foreign exchange effects. Including foreign exchange effects, revenue for 2000 was $30.6 million compared to $26.2 million for 1999. Pro forma net income was $2.3 million, or $0.13 per diluted share compared to $2.7 million, or $0.16 per diluted share in the year 1999. Pro forma net income excludes warrant interest income or expense, stock compensation expense and goodwill amortization. Chane Graziano, CEO of Harvard Bioscience commented: "We made significant investments in 2000 in order to commercialize several new technologies and launch many new products. Even with these efforts, HBIO generated strong net income for the year. The record performance in both revenues and net income in our first quarter as a public company provides us with a solid foundation to build on as we go forward. The capital we raised in our December 2000 IPO provides us with the financial resources to accelerate our growth strategy." Reported net income for the fourth quarter of 2000 was $34.0 million ($2.66 per share basic and $0.00 on a diluted basis), compared to a loss of $23.2 million ($4.15 per share) for the same period of 1999. Reported net income for the fourth quarter of 2000 included a non-recurring, non-cash gain of $34.0 million for common stock warrant interest income, and pre-tax charges of $181,000 for goodwill amortization and $1.3 million for stock compensation expense. Reported net loss for the fourth quarter of 1999 included $22.3 million of warrant interest expense and pre-tax charges of $2,346 for stock compensation and $117,000 of goodwill amortization. Reported net loss for the year ended 2000 was $49.9 million, or $(6.25) per share compared to a loss of $29.4 million, or $(5.28) per share for the same period in 1999. Reported net loss for 2000 included a charge of $36.9 million for warrant interest expense, and pre-tax charges of $0.6 million for amortization of goodwill and $14.7 million of stock compensation expense. Reported net loss for 1999 included warrant interest expense of $29.7 million and pre-tax charges of $3.3 million for stock compensation and $368,000 for goodwill amortization. HBIO ended the fourth quarter of 2000 with cash of $35.8 million. Harvard Bioscience is a global developer, manufacturer and marketer of innovative, enabling tools in drug discovery research at pharmaceutical and biotechnology companies, universities and government laboratories. HBIO sells approximately 10,000 products to thousands of researchers in over 60 countries though its 1,000 page catalog, and through its distributors, the most notable of which is AP Biotech. HBIO has sales and manufacturing operations in the United States, the United Kingdom, and Germany with sales facilities in France and Canada.<< snip Anybody else? Hello? Cheers, Tuck