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. The Purdue Research Park company provides contract research services and monitoring instruments to drug development companies and medical research organizations.