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Enzo Biochem (ENZ) Reports First Quarter Results



12/11/2012 11:07:16 AM

NEW YORK--(BUSINESS WIRE)--Enzo Biochem, Inc. (NYSE:ENZ) today reported results for the fiscal first quarter ended October 31, 2012.

Recent highlights included:

Favorable patent infringement ruling in which the court awarded the Company $48.5 million and that could result in court awarded interest costs that could add multi-millions more.

The quarterly net loss was reduced by over $0.8 million, despite business disruption from Hurricane Sandy and increased legal costs associated with the patent trial.

Enzo Life Sciences’ operating income increased by $1.6 million, compared to a year ago loss.

Despite the storm-related loss of business, Enzo Clinical Labs revenues were up 7%, nearly two times the industry average growth.

Net cash used in operations was reduced by $0.8 million year-over-year to $1.5 million.


Read at BioSpace.com


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