HOLLISTON, Mass., March 28, 2016 (GLOBE NEWSWIRE) — Harvard Bioscience, Inc. (Nasdaq:HBIO) (the “Company”), a global developer, manufacturer and marketer of a broad range of solutions to advance life science, announced that the filing of its Annual Report on Form 10-K for the year ended December 31, 2015 (the “Form 10-K”) would not occur prior to the extended March 30, 2016 deadline, and also announced preliminary unaudited revenue for the three and twelve months ended December 31, 2015.

On March 14, 2016, the Company filed a Notification of Late Filing on Form 12b-25 (the “Form 12b-25”), indicating that the filing of its Form 10-K will be delayed due to the timing of a forensic investigation initiated by the Company following its discovery, based upon preliminary findings, that an employee at Denville Scientific, Inc., one of its wholly-owned subsidiaries, appears to have embezzled money from the Company and manipulated certain records in an attempt to conceal the theft.

While the Company is continuing to diligently prepare the Form 10-K and related financial statements for filing, it has determined that it will not be in position to file the same within the prescribed 15-day extension period. This continued delay is primarily a result of a combination of the time required for the forensic accounting expert to complete its comprehensive investigation of the embezzlement, as well as the ongoing efforts of the Company’s independent registered public accounting firm to complete its audit of the Company’s consolidated financial statements and internal control over financial reporting in accordance with the standards of the U.S. Public Company Accounting Oversight Board.

As the audited financial statements continue to be finalized, the Company reports that preliminary unaudited revenue for the three and twelve months ended December 31, 2015 were $28 million and $109 million, respectively.

financial statements.

About Harvard Bioscience

Harvard Bioscience is a global developer, manufacturer and marketer of a broad range of solutions to advance life science. Our products are sold to thousands of researchers in over 100 countries through our global sales organization, websites, catalogs, and through distributors including GE Healthcare, Thermo Fisher Scientific Inc., VWR and other specialized distributors. We have sales and manufacturing operations in the United States, the United Kingdom, Germany, Sweden, Spain, France, Canada and China. For more information, please visit our website at www.harvardbioscience.com.