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news.Bioanalytical Systems Inc (BASi), an Indiana-based pharmaceutical development company providing contract research services and monitoring instruments to drug development companies and medical research organizations, has reported net earnings of $310,000 on revenues of $8.1m for the first three months of fiscal 2011, compared to a loss of $1.5m on revenues of $6.4m in the corresponding quarter of the prior year.
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The improvement in earnings for the current fiscal quarter is mainly due to higher revenues in its service and product segments as well as reductions in operating expenses.
Revenues for the first fiscal quarter of 2011 were higher than any of the four quarters of fiscal 2010.
Operating expenses were reduced $265,000 from the first quarter of the prior year.
BASi president and CEO Anthony Chilton said it was encouraging for the organization to start the current fiscal year with a profitable quarter on stronger revenues.