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Financial Report: BASi

Restructuring charges impacts results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BASi

4Q Revenues: $6.5 million (-20%)

4Q Loss: $2.3 million (loss of $668,000 4Q11)

YTD Revenues: $28.2 million (-15%)

YTD Loss: $6.4 million (earnings were $543,000 YTD11)

Comments: Service revenue was down 17% in the quarter to $5.2 million. Product revenue was down 29% to $1.3 million. Restructuring charges were $2.5 million in the quarter and $3.2 million for the year. Revenue decline is attributed to the consolidation of the company’s Oregon facility into its West Lafayette facility and the closure of its UK lab.

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