BASi Reports Fiscal Q2 Loss

BASi was founded in West Lafayette in 1974.

West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal second quarter loss of $254,000, compared to a net income of $150,000 during the same period last year. Chief Executive Officer Jacqueline Lemke says, despite the loss, the company is confident it will succeed in delivering on its growth initiatives.

For the first half of the fiscal year, the company is reporting a net loss of $760,000, compared to a net income of $332,000 during the first half of the previous fiscal year. 

"While revenue was lower compared to the second quarter of fiscal 2015, revenue increased sequentially from our first fiscal quarter of 2016," said Lemke. "We are continuing our strategy to reach out to current and prospective clients to provide the scientific connection needed to assist in their drug development process. Also, our addition of experienced business development representatives in the Northeast and the West expands our reach in those important markets."

BASi recently announced the selection of Jill Blumhoff as chief financial officer. She succeeds Jeffrey Portzebowski, who retired earlier this week.