Bioanalytical Systems reports rises in quarter three revenue

Bioanalytical Systems has reported a net income rise for quarter 3 of 2010

Bioanalytical Systems (BASi), a pharmaceutical development company, has reported revenues of $8.06m for the third quarter ended 30 June 2010 compared to $5.99m for the comparable period in 2009.

BASi has posted a net income of $288,000 for the third quarter 2010, or $0.06 per diluted share, compared to a net loss of $632,000, or $0.13 loss per diluted share, for the comparable period in 2009.

Operating income for the third quarter ended 30 June 2010 was $558,000, compared to operating loss of $571,000 for the comparable period in 2009.

For the nine months ended 30 June 2010, BASi has posted revenue of $21.38m compared to $23.26m for the year ago period.

For the nine months ended 30 June 2010, BASi has posted a net loss of $2.41m, or $0.49 loss per diluted share, compared to net loss of $4.05m, or $0.82 loss per diluted share, for the year ago period.

Operating loss for the nine months ended 30 June 2010 was $1.97m, compared to operating loss of $4.34m for the year ago period.

BASi is focused on providing contract research services and research instruments and supplies to the drug development companies and medical research organisations.