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Financial Report: BASi

Revenues down 17%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BASi

2Q Revenues: $7.0 million (-17%)

2Q Loss: $1.9 million (Earnings were $483,000 2Q11)

YTD Revenues: $14.5 million (-12%)

YTD Loss: $3.4 million (Earnings were $793,000 YTD11)

Comments: Service revenue was $5.3 million (-18%). Product revenue was $1.7 million (-15%). Results include restructuring charges of $64,000. In addition to the restructuring of its bioanalytical lab operations, the company plans to reduce operating costs at its West Lafayette and Evansville facilities for a savings of approximately $2.5 million annually, as part of an effort to improve performance.  
 

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