Harvard Bioscience reports Q3 EPS (2c), consensus 3c

Reports Q3 revenue $22.0M, consensus $25.3M. Jim Green, Chairman and CEO, said, “Our third quarter revenues continued to reflect the effects of the challenging market environment. Our migration to a single US enterprise resource planning system, completed in the third quarter, supports operating efficiencies as well as improvements in inventory and supply chain management going forward. We have stayed focused on managing costs and have implemented additional cost reduction actions that we expect to result in incremental quarterly cost savings of $1 million beginning in Q4. We’re happy to see expanding adoption of our new telemetry, neuro-behavior and bioproduction products. We’re especially pleased by the growth of our breakthrough MeshMEA(TM) organoid systems, led by early adopters including leading academic researchers, and now CRO and BioPharma customers.”