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Basi turns profit after four years in red

December 27, 2007
West Lafayette-based Bioanalytical Systems Inc. had its first profitable year in four years, posting a gain of $926,000 for the 12 months ended Sept. 30. Revenue in the fiscal year increased 5 percent to $45.2 million.

The company has been struggling after losing a large customer in Baltimore. Over the past year, it laid off 12 percent of its work force and reduced office space to help reverse a string of quarterly losses.

Company founder Peter Kissinger and his wife, Candice, stepped down from their executive positions in the fall. T
he Purdue Research Park company provides contract research services and monitoring instruments to drug development companies and medical research organizations.
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