As of January 31, 2013, cash and cash equivalents totaled $10.0 million. Working capital amounted to $13.7 million. Net cash used in operating activities for the six months ended January 31, 2013 was $4.6 million, up from $3.6 million the year ago period.“This has been an unexpectedly challenging quarter,” said Mr. Weiner. “It included a devastating hurricane affecting Clinical Labs and reduced government expenditures, including a tightened NIH budget that has affected Life Sciences, while the trend continues towards reduced reimbursements both from government as well as commercial payors. On the plus side, we anticipate the introduction of new esoteric, higher margin laboratory developed tests that should drive revenue growth in Clinical Labs. Clinical Labs will shortly be adding several key assays to its expansive testing menu directed at Women’s Health. Hurricane Sandy not only adversely affected our lab service volume, but it also led to delays in final approval by regulatory authorities of several of these new key tests that we now expect to release.
Enzo Biochem Reports Fiscal Second Quarter Results
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