Bioanalytical Systems Turns To Profit In Q4; Stock Up - Quick Facts

(RTTNews) - Bioanalytical Systems Inc. (BASI) reported that its fourth quarter of fiscal 2013 net income was $252,000 or $0.03 per share, compared to a net loss of $2.70 million or $0.36 per share in the same quarter last year.

The latest-quarter result included a pre-tax decrease in the fair value of warrant liability of $308,000. The prior year result included a pre-tax increase in the fair value of warrant liability of $385,000.

Operating expenses for the fourth quarter increased to $1.81 million from $1.79 million a year earlier, primarily due to expenses associated with the restatement of financial results for certain prior periods reported on October 18, 2013.

Operating income for the fourth quarter was $98,000, compared to an operating loss of $2.14 million a year earlier, which included restructuring charges of $2.51 million.

Quarterly revenue decreased to $5.51 million from $6.54 million last year.

In the pre-market trade, BASI is currently trading at $2.83, up $0.33 or 13.20%.