This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Enzo Biochem Reports Fiscal Second Quarter Results

Stocks in this article: ENZ

Segment Quarterly Results:

Clinical Labs was affected during the early part of the quarter as a result of the storm, although there has since been a pickup in activity. Revenues were $13.2 million, compared with $14.1 million a year ago, a 6% decline, mostly due to the storm’s impact. Gross profit decreased $1.5 million, to $3.9 million due to the decreased revenues and higher lab costs. Operating expenses, including a 5% reduction in the segment’s SG&A, declined $0.2 million to $6.3 million, from $6.5 million, with the result that the operating loss amounted to $2.4 million, compared with $1.1 million year over year.

Life Sciences’ continued to benefit from its transformation to a more centralized operating and marketing segment, narrower and more profitable product lines, reduced distributorships and lower payroll expenses from personnel staff reduction. However, lower funding for life science activities amidst macroeconomic concerns is having an industry-wide effect, particularly on product sales. Excluding royalty income, which was $1.0 million, product revenues were $7.9 million as compared to $9.5 million in the prior period. Total gross margin was $4.7 million, and as a percentage of sales was 53%, as compared with 57% a year ago. Total operating expenses declined 13%, to $4.8 million, reflecting cost-cutting, and the operating loss was $57,000, compared to operating income of $0.7 million a year ago. Life Sciences’ EBITDA was $0.9 million, a decrease of $.2 million from $1.1 million in the year ago period.

Year-to–Date Summary

For the six months ended January 31, 2013, revenue declined by $2.9 million to $47.8 million, from $50.7 million in the first half of 2012. Clinical Labs’ revenues increased 1%, negatively affected by approximately $2.9 million from the storm while Life Sciences’ product revenues declined 15% and royalty and licensing revenues declined $0.1 million. Gross margins were $20.4 million, $3 million less than a year ago. Operating expenses, including R&D, SG&A, legal and provision for uncollectible accounts decreased by 4%, largely due to reduced SG&A and R&D expenses. Net loss was $(9.4) million, compared with $(8.7) million in the year ago period.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,328.64 +137.27 0.80%
S&P 500 2,008.62 +6.46 0.32%
NASDAQ 4,644.2740 +6.28 0.14%

Partners Compare Online Brokers

Free Reports

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