Financial Report: BASi
1Q Revenues: $8.6 million (+60%)
1Q Loss: $85,000 (earnings were $26,000 1Q18)
Comments: Revenue growth was mainly driven by the incremental sales associated with the Seventh Wave acquisition plus increased sales in both the Services and Products segments. Service revenue for quarter increased 71% to $7.7 million. Nonclinical services revenues increased $2.5 million due to an overall increase in the number of studies and additional revenues attributable to the Seventh Wave Laboratories acquisition of $1.9 million in the quarter. Bioanalytical analysis revenues increased by $662,000 in the quarter, mainly due to additional revenues attributable to the Seventh Wave acquisition. Other laboratory services revenues were positively impacted by higher pharmaceutical analysis revenues.