Advertisement
News
Advertisement

Enzo Biochem 2Q loss widens on costs

Fri, 03/12/2010 - 1:17pm
The Associated Press

Biotechnology company Enzo Biochem Inc. said Friday its 2010 fiscal second-quarter loss widened on a boost in proxy-related and legal costs.

The company provides diagnostic services and makes research products and medical tools.

For the three months that ended Jan. 31, the company lost $10.3 million, or 27 cents per share, compared with a loss of $7.7 million, or 20 cents per share, a year ago. Revenue rose 11 percent to $23.2 million from $20.9 million.

"The fiscal second quarter reflected another quarter of improved operating results, excluding unusually high proxy related costs and a one-time payment to a former officer to settle litigation and the related legal costs," said President Barry Weiner, in a statement.

The company's gross profit margin rose to 47 percent from 38 percent.

Revenue from tests and other products rose 13 percent to $10.8 million while revenue from clinical lab services rose 11 percent to $10.6 million. Royalties and license fee revenue fell 3 percent to $1.8 million.

Enzo shares rose 8 cents to close at $6.23.

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading