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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. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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