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Financial Report: BASi

Returns to profitability in the quarter

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BASi
 
3Q Revenues: $5.6 million (-22%)

3Q Earnings: $576,000 (loss of $246,000 3Q12)

YTD Revenues: $16.6 million (-24%)

YTD Earnings: $521,000 (loss of $3.6 million YTD13)

Comments: Service revenue for the quarter was down 20% to $4.2 million, impacted by the consolidation of BASi’s Oregon lab into its West Lafayette facility. Product revenue decreased 27% to $1.4 million, primarily due to lower sales of Culex automated sampling systems. Earnings in the quarter are attributed to a higher gross margin and lower operating expenses. Restructuring charges impacted 2012 earnings.

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