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Financial Report: BASi 1Q

Service revenue was $6.0 million in the quarter (-25%). Product revenue was $2.0 million (-16%). Loss from continuing operations was $2.0 million.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BASi

1Q Revenues: $8.1 million (-24%)

1Q Loss: $1.6 million (loss of $16,000 1Q08)

Comments: Service revenue was $6.0 million in the quarter (-25%). Product revenue was $2.0 million (-16%). Loss from continuing operations was $2.0 million. The company sold and its Baltimore, MD clinic in June 2008 and discontinued its Phase I clinical trials business. The loss from discontinued operations was $603,000 in 1Q07. According to the company, several projects were delayed or cancelled in the quarter, negatively impacting revenue. Also, the impact of foreign exchange contributed to loss in the quarter.

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