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Financial Report: BASi

Service revenue in the quarter down 2%

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By: Kristin Brooks

Managing Editor, Contract Pharma

BASi
3Q Revenues: $6.0 million (+3%)
3Q Loss: $75.0 million (earnings were $221 million 3Q17)
YTD Revenues: $17.4 million (-5%)
YTD Earnings: $6.0 million (earnings were $655 million YTD17)
Comments: Service revenue in the quarter decreased 2% to $4.9 million. Preclinical services revenues and bioanalytical revenues increased $204k and $30k, respectively, due to a more favorable mix of studies in the quarter. Other laboratory services revenues were negatively impacted by lower pharmaceutical analysis and archive revenues, which impact was partially offset by higher discovery services revenues in the third quarter of fiscal 2018 versus the comparable period in fiscal 2017. During the quarter the company acquired Seventh Wave Laboratories LLC. One-time expenses related to recruiting, retirement, relocation and acquisition-related due diligence and transaction costs were approximately $210,000.

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