A dip in fourth-quarter net income is starting to catch up with Harvard Bioscience (NSDQ:HBIO) today, with share prices sliding to reverse a modest rally earlier in the day.
HBIO shares were down 6 cents to $4.32 each by roughly 2 p.m. The lab instruments maker this morning reported $2.2 million in fourth-quarter profits on $29.5 million in sales — beating the revenue estimate of the lone analyst tracking the company — and a 6.8 percent increase from year-ago revenues. Earnings per share were 8 cents.
Last year, Harvard Biosciences earned 13 cents per share. Overall, the company boosted full-year sales 26 percent from 2009 levels, to $108.2 million.