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Financial Report: BASi

Bioanalytical revenue down 35% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

BASi

3Q Revenues: $5.1 million (-18%)

3Q Loss: $433K (earnings were $1.5 million 3Q15)

YTD Revenues: $15.3 million (-14%)

YTD Loss: $1.3 million (earnings were $1.8 million YTD15)

Comments: Bioanalytical revenue was down 35%, due to fewer samples received and analyzed in the quarter. Product segment increased 11% to $1,280,000, driven by instrument sales from BASi Culex automated in-vivo sampling line, plus an increase in sales of analytical instruments and consumables. The company recognized a one-time benefit to Preclinical services revenues from an early termination in 3Q15. Operating expenses for the quarter increased to $1,538,000 compared to $956,000.

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