BASi Profit Swing Continues

Posted: Updated:
BASi was founded in West Lafayette in 1974. BASi was founded in West Lafayette in 1974.
WEST LAFAYETTE -

West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting fiscal second quarter net income of $417,000, compared to a net loss of $254,000 during the same period the previous year. Chief Financial Officer Jill Blumhoff says the swing to profitability is largely due to an improved top line performance and focus on cost controls.

BASi says it continues to work toward refinancing its debt to Huntington Bank by July 31. The company announced in late January it had been operating in default of its credit agreements with the bank. BASi says its performance in the last quarter is "encouraging."

"We continue to experience strong demand for our preclinical services and steady improvement in our discovery and pharmaceutical analysis revenues," said Blumhoff. "We intend to build on our positive momentum as we make progress on our strategic imperatives including steps to refinance our indebtedness with Huntington Bank, capture more cost savings where appropriate and expand our business with existing customers and add new ones."

The company says its board of directors is also working to find a new chief executive officer. The position was vacated in November.

You can view the full fiscal second quarter earnings release by clicking here.

  • Perspectives

    • Scott Flood is the owner of Scott Flood Writing.

      Kvetching Employees Kill Reputations

      There's a lot to bemoan about the state of customer service, but one particularly disturbing trend I've noticed is a growing number of employees complaining in the presence of customers.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Pike County Partners Unveil Master Plan For Massive Acreage

      A long-term strategic plan focused on developing 4,000 acres off of I-69 in southwest Indiana has been released. The Pike County I-69 Interchange master plan is designed to boost retail, commercial, residential and industrial investment opportunities near Petersburg. Properties involved in the initiative, which was launched last year, include a portion of the massive Southwest Indiana Megasite.

    • Another Major Development Coming to International Marketplace

      Officials in Indianapolis will Friday break ground on a $24 million mixed-use development at the International Marketplace on the city’s west side. The International Marketplace Coalition says the Pyramids at 35 Hundred will include residential and commercial space, creating 75 permanent jobs.

    • Scott Flood is the owner of Scott Flood Writing.

      Kvetching Employees Kill Reputations

      There's a lot to bemoan about the state of customer service, but one particularly disturbing trend I've noticed is a growing number of employees complaining in the presence of customers.

    • Holcomb Nominates Opportunity Zones

      Governor Eric Holcomb has submitted nominations to the U.S. Secretary of the Treasury for dozens of Hoosier communities to earn the newly-created Opportunity Zone designation. The federal program, which was created with the passage of the Tax Cuts and Jobs Act, provides tax incentives to attract private investment to low-income communities.

    • (Image of The Pete Dye Course at French Lick courtesy of The Pete Dye Golf Trail.)

      Pete Dye Golf Trail Returns

      The Indiana Department of Tourism Development has relaunched the statewide Pete Dye Golf Trail. The initiative, which is a salute to Carmel resident and world-renowned golf course designer Pete Dye, involves seven courses in Indianapolis, West Lafayette, Culver and French Lick. The IOTD will market and manage the trail. It now includes the Ackerman-Allen Course, part of the the Birck-Boilermaker Golf Complex in West Lafayette. Indiana Lieutenant Governor Suzanne Crouch says...