This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Enzo Biochem Reports Improved Third Quarter Results

Stocks in this article: ENZ

Enzo Biochem, Inc. (NYSE:ENZ) today reported operating results for the three months ended April 30, 2011, including:

  • EBITDA (earnings before interest, taxes, depreciation and amortization, a non-GAAP measure) improvement of 73%, or $2.4 million;
  • A 9% increase in total revenues, reflecting a 28% increase in Enzo Clinical Lab revenues for the period;
  • Improved margins at both Enzo Labs and Enzo Life Sciences, resulting in a 17% increase in gross profits;
  • A 54% reduction, or $2.5 million improvement, in the quarter’s net loss as compared to a year ago;

“As our third quarter results reflect, our efforts to date to better integrate our Clinical Lab and Life Sciences activities, increase market share, reduce costs and enhance productivity are starting to yield very tangible results,” said Barry Weiner, President. “These achievements are being realized as we continue to position Enzo for the new and increasing shifts in medical diagnostics to personalized medicine and gene-based, or molecular testing, in addition to the development of our own laboratory developed tests and realize the planned benefits from our cost management plan.”

Third Quarter Operating Results

Total revenues increased to $25.8 million, up from $23.7 million in the preceding January 2011 quarter and from $23.8 million in the corresponding year-ago period. Product revenues were up almost 7% sequentially, though down a slight 1% year over year, while Clinical Lab revenues at $13.8 million, increased 12.5% and 28%, respectively. Royalty and licensing fee income, based on current payments received, declined to $1.1 million, from $1.2 million and $1.9 million sequentially and year-over-year, respectively. Reduced product sales is indicative of the Company’s program to increase direct sales and rationalize certain distribution business, while the Clinical Labs business benefited from organic growth as well as the previously announced major new payer contract, which also has enabled Enzo to tap into a wider network of physicians not previously serviced.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs