Bioanalytical Systems (BASI) Reports Q1 Loss of $0.06

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Go back to Bioanalytical Systems (BASI) Reports Q1 Loss of $0.06

BASi Reports First Quarter Results

February 16, 2016 9:02 AM EST

WEST LAFAYETTE, Ind.--(BUSINESS WIRE)-- Bioanalytical Systems, Inc. (NASDAQ: BASI) (BASi or the Company) today announced financial results for the first quarter of fiscal 2016, which resulted in non-compliance with the financial covenants in its credit facility.

First Quarter Results

For the three months ended December 31, 2015, revenue was $4,895,000 a 16% decrease from $5,845,000 in the first quarter of fiscal 2015.

Service revenue for the first quarter of fiscal 2016 decreased 7.8% to $4,055,000 compared to $4,398,000 for the same period in fiscal 2015. Increased preclinical services revenue was more than offset by lower other laboratory services revenue, due to... More