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 Fourth Quarter Results And Announces Realignment Program Expected To Reduce Annualized Costs $6 Million Commencing With Fiscal First Quarter

Stocks in this article: ENZ

Fiscal Fourth Quarter

Total revenues amounted to $26.4 million, compared with $26.8 million in the corresponding year-earlier period. Of the total, revenues from Clinical Labs amounted to $15.9 million, and were 11% greater than a year ago reflecting wholly organic growth. Life Sciences product revenues declined 15% to $8.9 million, but gross profit margins as a percent of revenues advanced to 42%, from 39% last year. Royalty and licensing fee income declined 20% to $1.7 million. Company gross profit margins as a percentage of revenues were 44%, versus 45% a year ago. Cash utilization for the quarter was reduced year over year by $3.2 million to $0.2 million. On a sequential basis, cash utilization also improved more than $3.0 million as well.

Operating loss for the quarter was ($27.1) million, or ($0.69) per share, which includes a $24.5 million non-cash impairment charge for intangibles and goodwill (excluding a $2.1 million tax benefit), as well as incremental non-recurring severance costs of $0.3 million. Last year’s net loss for the quarter was ($4.0) million. EBITDA loss, adjusted for these charges was ($3.1) million, compared with ($3.0) million last year.

Full Year Results

Total revenues increased to $103.1 million, from $102.0 million last year. Gross profit totaled $47.1 million, or 46% as a percentage of revenues, compared with $48.2 million, or 47%, respectively, in fiscal 2011. Enzo Clinical Lab sales for the year advanced to $59.4 million, up 13% from the previous year, and gross margins were $23.1 million, up 10% for the year. Enzo Life Sciences posted product revenues of $37.2 million, against $41.8 million last year; gross profit of $18.1 million declined 8%, but as a percentage of revenues increased to 48%, from 47%. Royalty and licensing fee income declined 20% to $6.0 million. Including the non-cash fourth quarter impairment charges ($22.4 million net of tax benefit), the year’s net loss amounted to ($39.3) million, or ($1.01) per share, compared with ($13.0) million or ($0.34) per share, respectively, in fiscal 2011.

3 of 6

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 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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