- Total revenues improved 3%, with gains in Life Science and Clinical Labs, despite inclement winter weather that impacted laboratory revenues.
- Enzo Life Sciences operating results showed benefits of strategic realignment, including its emphasis on targeted markets with higher margin products.
- Enzo Clinical Labs posted operating gains as a result of its emphasis on greater number of high-value assays and new alliances, as well as reduced accounts receivables uncollectible provisions from better collection experience. New alliances are expanding Clinical Labs’ range of esoteric and molecular diagnostics, particularly in women’s health area, a growing specialty for Enzo.
- Gross margin increased by 13%, with both Life Sciences and Enzo Clinical Labs segments growing by double-digits.
- Total operating expenses were reduced by 6%, due to across the board expense reductions.
- Net loss improved by $2.1 million, declining 37%, while EBITDA loss fell by 46%.
- Cash was essentially unchanged from the prior quarter ended October 31, 2013.
Enzo Biochem Reports Across The Board Second Quarter 2014 Improved Results
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