WEST LAFAYETTE, IN -- (MARKET WIRE) -- February 07, 2007 -- Bioanalytical Systems, Inc. (NASDAQ: BASI) today reported financial results for its first quarter of fiscal 2007, ended December 31, 2006. Revenue increased 11% to $10.9 million compared to $9.8 million for the quarter ended December 31, 2005. Net income for the first quarter of fiscal 2007 was $556,000, or $0.11 per basic and diluted share, compared to a net loss of $716,000, or a loss of $0.15 per basic and diluted share for the first quarter of fiscal 2006. The Company experienced increased revenues in its bioanalytical and toxicology operations, essentially flat revenues from sales of products, and a decline in revenues from clinical operations as a result of the loss of a significant client in fiscal 2006.
