BASi Turns in Profitable Quarter

Posted: Updated:
Jill Blumhoff serves as cfhief financial officer. Jill Blumhoff serves as cfhief financial officer.
WEST LAFAYETTE -

West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal third quarter net income of $221,000, compared to a net loss of $433,000 in the same period last year. Chief Financial Officer Jill Blumhoff credits increased pre-clinical services demand and improved pharmaceutical analysis revenues with the swing to quarterly profitability.

"Combined with our archive revenue initiative, these factors contributed to our significant profitability improvement year over year," said Blumhoff. "Finalizing the new credit facility in June was a significant accomplishment, providing liquidity to continue to implement the initiatives begun earlier this year. Moving forward, we intend to continue to invest in new product development and to attract additional customers for all of our business units, while maintaining our focus on quality and customer service."

The company says revenue jumped 15 percent to $5,836,000 compared to the same quarter last fiscal year.

You can connect to more about the results by clicking here.

  • Perspectives

    • The Evolution of Business: From Bottom Line to Value Creation And Impact

      In today's world, consumers want to know how corporations, as a whole, are taking a stand. In fact, customers are 43 percent more likely to purchase a product from a company they know is committed to social value. It's not just consumers pushing this trend. Financial service industry leaders, like KeyBank's Beth Mooney and BlackRock's Larry Fink, are challenging business owners and the C-Suite to rethink their economic impact, environmental footprint and social conscience.

    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

    • Indy Firm Taps Appirio Exec as CEO

      An Indianapolis-based design and innovation consulting firm has named a new chief executive officer. Studio Science says Steve Pruden, who most recently served as senior vice president of human resources with Indy tech company Appirio, will lead the company.

    • Court Sides With Lilly on Alimta Case

      The latest in a string of patent infringement cases involving Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has ended positively for the pharmaceutical giant. The U.S. District Court for the Southern District of Indiana has ruled in favor of Lilly, preventing a competitor from launching an alternative form of its Alimta vitamin regimen. The court ruled that Lilly's patent for Alimta would be infringed upon if India-based Dr. Reddy's Laboratories had moved forward with...

    • St. Vincent Announces Layoffs

      St. Vincent Health says it has laid off 85 employees throughout the state. In a statement to Inside INdiana Business, St. Vincent cites a rapidly-evolving healthcare environment as a reason for the workforce reduction. 

    • (Image Courtesy: Lilly Oncology)

      Lilly Closes on Mega Acquisition

      Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has completed its acquisition of ARMO BioSciences Inc. of California. The deal, which was valued at approximately $1.6 billion when first announced last month, boosts Lilly's immuno-oncology pipeline. Lilly offered $50 per share of ARMO stock for the company. ARMO's portfolio includes...

    • Auburn City Hardware Store Sold

      A historic northeast Indiana retailer is under new ownership. The KPC News reports the Auburn City Hardware Store has been sold to VRJ Holdings, which is also based in DeKalb County.