BASi Releases Earnings for Third Quarter of Fiscal 2020
BIOANALYTICAL SYSTEMS (BASI)
US:NASDAQ Investor Relations:
basinc.com/invest
Company Research
Source: GlobeNewswire
WEST LAFAYETTE, Ind., Aug. 14, 2020 (GLOBE NEWSWIRE) -- Bioanalytical Systems, Inc. (NASDAQ:BASI) (“BASi”, the “Company”, “We” or “Our”), doing business as Inotiv, a leading provider of nonclinical and analytical contract research services, today announced financial results for the three months ended June 30, 2020. During the third quarter of fiscal 2020, the Company saw 45.2% revenue growth compared to the third quarter of fiscal 2019. Growth initiatives including acquisitions of the Gaithersburg, Maryland, operations of Smithers Avanza in May 2019 and Pre-Clinical Research Services, Inc.’s (“PCRS”) business in Ft. Collins, Colorado, in December 2019, as well as internal growth at existing sites from the expansion of the Evansville facility and investment in the St. Louis facility, contributed to the increase in service revenue and gross margins. Robert Leasure, Jr., BASi's President and Chief Executive Officer commented, "Like many others, we experienced challenges related
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