BASi

1Q Revenues: $10.9 million (+11%)

1Q Earnings: $556,000 (loss of $716,000 1Q2006)

Comments: Bioanalytical and toxicology operations revenues increased in the quarter, revenues from product sales were flat, and revenues from clinical operations declined as a result of the loss of a significant client FY2006. The company had reduced selling, R&D, and general and administrative expenses to $2.7 million, compared to $4.1 million in 1Q2006. These expenses were favorably impacted by reductions in headcount announced in September 2006 and reduction of amortization expense as a result of an impairment charge recorded in the third quarter of fiscal 2006.