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Restructuring charges impacts results
December 28, 2012
By: Tim Wright
BASi 4Q Revenues: $6.5 million (-20%) 4Q Loss: $2.3 million (loss of $668,000 4Q11) YTD Revenues: $28.2 million (-15%) YTD Loss: $6.4 million (earnings were $543,000 YTD11) Comments: Service revenue was down 17% in the quarter to $5.2 million. Product revenue was down 29% to $1.3 million. Restructuring charges were $2.5 million in the quarter and $3.2 million for the year. Revenue decline is attributed to the consolidation of the company’s Oregon facility into its West Lafayette facility and the closure of its UK lab.
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