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Financial Report: BASi

Consolidation efforts impact results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BASi

2Q Revenues: $5.2 million (-26%)

2Q Loss: $169,000 (loss of $1.9 million 2Q12)

YTD Revenues: $11.0 million (-24%)

YTD Loss: $30,000 (loss of $3.4 million YTD12)

Comments: Service revenue in the quarter was down 31% due to the consolidation of BASi’s Oregon lab into its West Lafayette facility and the closure of its UK lab. Product revenue was down 12% in the quarter, primarily due to the delayed launch of Culex NxT, but increased 31% compared to 1Q13.

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