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Bioanalytical Systems reports loss in second quarter

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Bioanalytical Systems Inc. narrowed its losses in the second fiscal quarter despite a 2 percent drop in revenue, the West Lafayette-based contract research firm said late last week.

A $1.2 million loss in the period ended March 31 was better than the $1.8 million loss reported for the same period last year. Revenue was down $200,000, to $6.9 million.

Chief Financial Office Michael Cox attributed the bulk of the loss to one-time charges including $520,000 related to staff reductions.

"Our operations in our most recently completed fiscal quarter have shown improvement,” he said in a prepared statement.  “Yet there is, in our business as well as the general economy, a long way to go to put this recession behind us.”

On Friday, the company named Anthony S. Chilton as president and CEO following the retirement of top executive Richard M. Shepperd earlier this year. Chilton, 53, had been Bioanalytical’s chief operating officer since 2008.

Located in Purdue University’s Research Park, Bioanalytical Systems was founded in 1974 by Pete and Candace Kissinger. Over the years, it grew into one of Indiana’s largest life science firms.

But the economic turmoil took its toll on the company, which saw annual revenue decline from $45.2 million in 2007 to $31.8 million last year—leading to a loss of $5.5 million.

Bioanalytical Systems’ revenue is down a total of 12 percent for the first six months of the 2010 fiscal year, the company said, but losses have narrowed to $2.7 million from $3.4 million in the first half of 2009.

“During the course of this downturn, we made a significant improvement in our cost structure, a discipline we intend to maintain,” Cox said in the statement.

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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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