BASi (Bioanalytical Systems, Inc.) (NASDAQ: BASI) today reported financial results for its first quarter of fiscal 2006, ended December 31, 2005. Revenue increased 1% to $9.8 million compared to $9.7 million for the quarter ended December 31, 2004. Net loss for the first quarter of fiscal 2006 was $716,000, or $0.15 per basic and diluted share, compared to a net income of $404,000, or $0.08 per basic and diluted share for the first quarter of fiscal 2005. The Company experienced delays in initiation of sizeable analytical chemistry projects, which negated significant improvements in the Company’s toxicology and clinical research operations. Sales in the Company’s products segment declined slightly, from $2.4 million to $2.3 million.
