BASI reverses loss from year-ago quarter

Bioanalytical Systems Inc., based in the Purdue Research Park in West Lafayette, reported fiscal first-quarter profit of $556,000, reversing a loss of $716,000 a year earlier. Revenue for the period ended Dec. 31 increased 11 percent, to $10.9 million.

The company, which laid off 12 percent of its work force last year, said increased revenue in its bioanalytical and toxicology operations was offset by the loss of a large customer at its Baltimore clinic.