A company in the Purdue Research Park is reporting positive results for the year.
Bioanalytical Systems, Incorporated had net income of $543,000 for the fiscal year that ended September 30th. BASi ended the previous fiscal year with a net loss of more than $2.5 million.
President and CEO Anthony Chilton says the company generated cash, delivered revenue growth, and substantially improved bottom-line performance. He says that happened despite a difficult economic environment and delays in certain projects.
BASi also added more sales staff, which brought in more than 25 new clients.
Chilton says business conditions remain challenging. However, he thinks industry trends indicate new drug discovery and development will rely on outsourcing, and the 35 year old business is well positioned to meet those needs.
BASi is a pharmaceutical development company with services and products designed to increase efficiency and reduce the cost of taking a new drug to market.