IBJNews

Refinancing boosts Bioanalytical Systems

Back to TopCommentsE-mailPrintBookmark and Share

Investors sure liked the Dec. 2 news that Bioanalytical Systems Inc. reworked its bank loans to have less debt and more time to pay it off. The share price of the West Lafayette-based company has soared by a whopping 44 percent since then.

Bioanalytical Systems, which makes laboratory equipment and performs analytical services for pharmaceutical companies, has showed increasing financial strength. Its cash flow from operations in the past six months has topped $2.5 million, up from $2 million in all of 2009 and less than $600,000 in all of 2008. In the second quarter of this year, the company recorded its first overall profit since 2007.

But looming over the company was a $1.3 million loan from Alabama-based Regions Bank, which was set to come due in February.

So Bioanalytical agreed to pay off $500,000 of that loan, as well as $500,000 on another $1.1 million loan due in 2018. In exchange, Regions rolled both of them into one new loan, which comes due in November 2012.

The new loan totals $1.4 million and bears a minimum interest rate of 4.5 percent.

Bioanalytical showed its greater confidence by hiring three more salespeople, who will serve the Southeast, Southwest and Northwest regions of the country.

"We are poised to make BASi the scientific connection companies need to bring new drugs to market,” said Alberto Hidalgo, the company’s vice president for business development and marketing.

Bioanalytical’s shares closed Dec. 2 at 90 cents apiece, but by the end of Tuesday they had jumped to $1.30 each. The stock’s value has risen 25 percent this year.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. President Obama has referred to the ACA as "Obamacare" any number of times; one thing it is not, if you don't qualify for a subsidy, is "affordable".

  2. One important correction, Indiana does not have an ag-gag law, it was soundly defeated, or at least changed. It was stripped of everything to do with undercover pictures and video on farms. There is NO WAY on earth that ag gag laws will survive a constitutional challenge. None. Period. Also, the reason they are trying to keep you out, isn't so we don't show the blatant abuse like slamming pigs heads into the ground, it's show we don't show you the legal stuf... the anal electroctions, the cutting off of genitals without anesthesia, the tail docking, the cutting off of beaks, the baby male chicks getting thrown alive into a grinder, the deplorable conditions, downed animals, animals sitting in their own excrement, the throat slitting, the bolt guns. It is all deplorable behavior that doesn't belong in a civilized society. The meat, dairy and egg industries are running scared right now, which is why they are trying to pass these ridiculous laws. What a losing battle.

  3. Eating there years ago the food was decent, nothing to write home about. Weird thing was Javier tried to pass off the story the way he ended up in Indy was he took a bus he thought was going to Minneapolis. This seems to be the same story from the founder of Acapulco Joe's. Stopped going as I never really did trust him after that or the quality of what being served.

  4. Indianapolis...the city of cricket, chains, crime and call centers!

  5. "In real life, a farmer wants his livestock as happy and health as possible. Such treatment give the best financial return." I have to disagree. What's in the farmer's best interest is to raise as many animals as possible as quickly as possible as cheaply as possible. There is a reason grass-fed beef is more expensive than corn-fed beef: it costs more to raise. Since consumers often want more food for lower prices, the incentive is for farmers to maximize their production while minimizing their costs. Obviously, having very sick or dead animals does not help the farmer, however, so there is a line somewhere. Where that line is drawn is the question.

ADVERTISEMENT