WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi” or the “Company”) today announced financial results for the first quarter of fiscal 2017.
First Quarter Results
For the three months ended December 31, 2016, revenue amounted to $6,174,000 a 26% increase from $4,895,000 in the first quarter of fiscal 2016.
Service revenue for the first quarter of fiscal 2017 increased 30% to $5,264,000 compared to $4,055,000 for the same period in fiscal 2016. Preclinical services revenue increased due to a significant increase in the number of studies compared to the prior year period. Other laboratory services revenues were positively impacted by higher discovery and pharmaceutical analysis revenues in the first three months of fiscal 2017 versus the comparable period in fiscal 2016.
