Acquisition Costs Lead to Loss for BASi

Posted: Updated:
WEST LAFAYETTE -

West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal third quarter net loss of $75,000, compared to net income of $227,000 during the same period last year. Chief Financial Officer Jill Blumhoff says the earnings were negatively affected by costs related to the company's July acquisition of Missouri-based Seventh Wave Laboratories LLC.

Blumhoff says the costs included one-time costs for retirement and recruiting as well as due diligence expenses, all totaling $210,000. However, she says the investments will positively impact future results.

"With these investments combined with the capital investments to improve our laboratory and computer equipment and infrastructure, we ended the current quarter with a zero balance on our line of credit," said Blumhoff. "We are very excited about the opportunity to integrate the talent and expertise of Seventh Wave. Through the acquisition, we have expanded our service offerings and can reach nearly double the clients for our services." 

Despite the net loss, the company did report $6 million in revenue for the quarter, up 4 percent from the same quarter in Fiscal 2017. You can connect to the full earnings report by clicking here.

  • Perspectives

    • Regional Investment Proposal Could be a Game Changer for Quality of Place Initiatives in Indiana

      While quality of place may be defined differently by people, a growing number of Hoosiers recognize the importance of this issue. In particular, the impact of quality of place on talent attraction and retention in a geographic area cannot be ignored. The future of every community is dependent on quality of place. Like many Midwestern states, Indiana is not growing at the same pace as areas in the southern and western regions of the United States.

    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

    • The Vogue opened as a movie house in 1938, then reopened as a nightclub in 1977. (Picture Courtesy: The Vogue)

      Tech Vets Purchase Popular Indy Nightclub

      A group of Indianapolis tech entrepreneurs has bought a popular nightclub in the city's Broad Ripple neighborhood. High Alpha co-founder Eric Tobias and former MOBI executives Scott Kraege and Andrew Davis say they will retain the Vogue's current staff to manage the venue's day-to-day operations. The new owners say they will detail plans to reinvigorate the Vogue through enhanced fan experience and engagement in the coming months. Tobias, Kraege and Davis purchased the Vogue...

    • (Image courtesy of the Indianapolis Colts.)

      Colts Announce 2019 Regular Season Schedule

      The 2019 NFL schedule is out and the Indianapolis Colts will play in several high-profile games. All three of the Colts’ 2019 primetime games will be on the road against defending division champions. 

    • Bryan Brenner is the CEO of FirstPerson and a founding partner of Performance Lab.

      FirstPerson Execs Launch Performance Lab

      A new firm founded by executives from Indianapolis-based FirstPerson says it wants to help companies strengthen performance. Performance Lab uses a field test known as the Performance Climate Survey, which provides insights into a company’s performance culture. Founding Partner Bryan Brenner, who is also the CEO of FirstPerson, says the firm has already landed a number of early customers, including Goodwill Industries, the Indy Chamber and the Central Indiana Community Foundation.

    • Skilled Nursing Facility Proposed for Merrillville

      A new $7 million skilled nursing facility is being proposed in Merrillville. Our partners at The Times of Northwest Indiana report the development would include five residential buildings outfitted with 12 beds, a dining area, beauty salon and spa. 

    • 2019 'Stellar' Finalists Announced

      Lieutenant Governor Suzanne Crouch has unveiled the finalists for the 2019 Stellar Communities Program. The four regions selected will receive a planning grant and work with the Indiana Communities Institute at Ball State University on project alignment and continued planning efforts. Stellar Communities, launched in 2011, is led by the Indiana Office of Community and Rural Affairs and aims to boost community and economic development and promote local and regional partnerships.