Harvard Bioscience, Inc. (Nasdaq: HBIO), a global developer,
manufacturer, and marketer of a broad range of tools to advance life
science research, today announced the hiring and appointment of Thomas
McNaughton as its new Chief Financial Officer effective immediately.
Mr. McNaughton most recently served as Chief Financial Officer for
Tivoli Audio, LLC a venture capital-backed global manufacturer of
premium audio systems. Prior to joining Tivoli, Mr. McNaughton spent 14
years at Cabot Corporation (NYSE: CBT) where he most recently held the
position of Chief Financial Officer of Cabot Supermetals, a $350 million
Cabot Corporation division that provides high purity tantalum and
niobium products to the electronics and semiconductor industries. Prior
to serving as Chief Financial Officer of this division, Mr. McNaughton
held various finance positions of increasing responsibility including
financial reporting, treasury, investor relations and acquisitions
within Cabot Corporation. Mr. McNaughton began his career at Deloitte &
Touche, LLP, and practiced for eight years as a Certified Public
Accountant in the audit services group.
"We are very pleased to have Tom join our team”,
said Chane Graziano, Chief Executive Officer. "Tom’s
background and experience are a perfect fit for Harvard Bioscience and
will provide great value that will assist us in achieving our long-term
growth objectives.”
About Harvard Bioscience
Harvard Bioscience ("HBIO”)
is a global developer, manufacturer, and marketer of a broad range of
specialized products, primarily scientific instruments and apparatus,
used to advance life science research at pharmaceutical and
biotechnology companies, universities and government laboratories
worldwide. HBIO sells its products to thousands of researchers in over
100 countries primarily through its 900 page catalog (and various other
specialty catalogs), its website and through its distributors, including
GE Healthcare, Thermo Fisher Scientific and VWR. HBIO has sales and
manufacturing operations in the United States, the United Kingdom,
Germany and Spain with additional facilities in France and Canada. For
more information, please visit www.harvardbioscience.com.
This press release contains, and our conference call may contain,
forward-looking statements within the meaning of the federal securities
laws. You can identify these statements by our use of the words
"guidance," "expects," "plans," "estimates," "projects," "intends,"
"believes" and similar expressions that do not relate to historical
matters. Forward-looking statements in this press release or that may be
made during our conference call may include, but are not limited to,
statements or inferences about the Company’s
or management’s beliefs or expectations, the
Company’s anticipated future revenues and
earnings, the strength of the Company’s
market position and business model, the impact of acquisitions, the
outlook for the life sciences industry, the Company’s
business strategy, the positioning of the Company for growth, the market
demand and opportunity for the Company’s
products, and the Company’s plans, objectives
and intentions that are not historical facts.
These statements involve known and unknown risks, uncertainties and
other factors that may cause the Company’s
actual results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that may cause the
Company’s actual results to differ materially
from those in the forward-looking statements include the Company’s
failure to successfully integrate acquired businesses or technologies,
expand its product offerings, introduce new products or commercialize
new technologies, including our new micro liter spectrophotometer and
electrophoresis products, unanticipated costs relating to acquisitions,
unanticipated costs arising in connection with the Company’s
consolidation of business functions, decreased demand for the Company’s
products due to changes in its customers’
needs, financial position, general economic outlook, or other
circumstances, overall economic trends, the timing of our customers’
capital equipment purchases and the seasonal nature of purchasing in
Europe,
economic, political and other risks associated with
international revenues and operations, the impact of the current
economic and financial crisis, additional costs of complying with recent
changes in regulatory rules applicable to public companies, our ability
to manage our growth, our ability to retain key personnel, competition
from our competitors, technological changes resulting in our products
becoming obsolete, future changes to the operations or the activities of
our Asys Hitech subsidiary that are being consolidated, our ability to
meet the financial covenants contained in our credit facility, our
ability to protect our intellectual property and operate without
infringing on others’ intellectual property,
potential costs of any lawsuits to protect or enforce our intellectual
property, economic and political conditions generally and those
affecting pharmaceutical and biotechnology industries, completion of the
purchase price allocation for Panlab s.l., impact of any impairment of
our goodwill or intangible assets, and our acquisition of Genomic
Solutions failing to qualify as a tax-free reorganization for federal
tax purposes, the amount of earn-out consideration that the Company
receives in connection with the recent disposition of the Company’s
Capital Equipment Business segment and factors that may impact the
receipt of this consideration, such as the revenues of the businesses
disposed of, plus factors described under the heading "Item
1A. Risk Factors” in the Company’s
Annual Report on Form 10-K, as amended, for the fiscal year ended
December 31, 2007 or described in the Company’s
other public filings. The Company’s results
may also be affected by factors of which the Company is not currently
aware. The Company may not update these forward-looking statements, even
though its situation may change in the future, unless it has obligations
under the federal securities laws to update and disclose material
developments related to previously disclosed information.
For investor inquiries, please call (508) 893-8066. Press releases may
be found on our web site, http://www.harvardbioscience.com.
