WEST LAFAYETTE, Ind.--(BUSINESS WIRE)--Feb. 11, 2005--Bioanalytical Systems, Inc. (Nasdaq:BASI) today reported financial results for its first quarter of fiscal 2005, ended December 31, 2004. Revenue increased 10% to $9.7 million compared to $8.8 million for the quarter ended December 31, 2003. Net income for the first quarter of fiscal 2005 was $404,000, or $0.08 per basic and diluted share, compared to a net loss of $130,000, or $0.03 per basic and diluted share for the first quarter of fiscal 2004. Increased sales effort resulted in better capacity utilization and a 22% increase in service revenue in the current year when compared to fiscal 2004. A 14% decrease in product revenues was the result of an unusually large order in the comparable period last year for the Company's Culex(R) system.
