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Revenues down 17%
May 11, 2012
By: Tim Wright
BASi 2Q Revenues: $7.0 million (-17%) 2Q Loss: $1.9 million (Earnings were $483,000 2Q11) YTD Revenues: $14.5 million (-12%) YTD Loss: $3.4 million (Earnings were $793,000 YTD11) Comments: Service revenue was $5.3 million (-18%). Product revenue was $1.7 million (-15%). Results include restructuring charges of $64,000. In addition to the restructuring of its bioanalytical lab operations, the company plans to reduce operating costs at its West Lafayette and Evansville facilities for a savings of approximately $2.5 million annually, as part of an effort to improve performance.
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