BASi Turns to Profit
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWest Lafayette-based Bioanalytical Systems, Inc. (Nasdaq: BASI) announced a fiscal full-year net income of $1.1 million compared with a loss of $1.1 million in 2014. President and Chief Executive Officer Jacqueline Lemke says the company continues to pursue strategies for improving its financial position.
“BASi continued to make progress on several fronts throughout the year while managing our financial resources to support key programs," said Lemke. "Although we were not able to fully replace revenue from programs coming to a close in fiscal 2014, we have intensified our business development and marketing outreach efforts to ensure potential new clients recognize the full line of service capabilities and products we offer and we will continue to pursue repeat business with our extensive, long-term client base.”
BASi reported a fourth quarter net loss of $721,000 in 2015, compared to a net loss of $404,000 in 2014. The company says lower revenue and saving money for a potential bad debt were the primary reasons for the loss this year.