Harvard Bioscience, Inc. (NASDAQ:HBIO)

Commenting on the Company's performance, Chane Graziano, CEO, stated, "First quarter 2010 was an outstanding quarter for Harvard Bioscience. Revenues were up 38% and non-GAAP adjusted diluted earnings per share was up 29%, driven by both the acquisition of Denville and a strong market demand across all major product lines. Organic growth in revenues was 4% and in orders was 8%. This performance was against a strong first quarter 2009. As we look forward, we continue to be optimistic about our future as we drive our growth strategy of acquisitions, internal development of new products and regenerative medicine."

Mr. Graziano continued, "We are maintaining our guidance for the full year and expect revenues to be up 27% to 30% in the $109 to $112 million range and non-GAAP adjusted diluted earnings per share to be up 20% to 27% in the $0.36 to $0.38 range. The year's guidance was calculated using January 31, 2010 exchange rates, and we remain comfortable with the stated revenue and earnings ranges. For the second quarter 2010 we expect revenues to be up 39% to 50% from the second quarter of 2009 in the $25 to $27 million range and non-GAAP adjusted diluted earnings per share to be up 60% to 80% in the $0.08 to $0.09 range at April 23, 2010 exchange rates. Our guidance does not include the impact of any future acquisitions."

Source: Globe Newswire (April 29, 2010)