Bioanalytical Systems (BASI) Swings to Q3 Loss

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Go back to Bioanalytical Systems (BASI) Swings to Q3 Loss

BASi Reports Third Quarter Results

August 11, 2016 8:30 AM EDT

WEST LAFAYETTE, Ind.--(BUSINESS WIRE)-- Bioanalytical Systems, Inc. (NASDAQ: BASI) (BASi or the Company) today announced financial results for the third quarter and first nine months of fiscal 2016.

Third Quarter Results

For the three months ended June 30, 2016, revenue was $5,053,000 a 17.8% decrease from $6,150,000 in the third quarter of fiscal 2015.

Service revenue for the third quarter of fiscal 2016 decreased 24.6% to $3,773,000 compared to $5,001,000 for the same period in fiscal 2015. The company recognized a one-time benefit to Preclinical services revenues from an early termination in the third quarter of fiscal 2015 which did not repeat... More