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Enzo Biochem (ENZ) Reports Fourth Quarter Results and Announces Realignment Program Expected to Reduce Annualized Costs $6 Million Commencing With Fiscal First Quarter



10/16/2012 10:23:15 AM

NEW YORK--(BUSINESS WIRE)--Enzo Biochem Inc. (NYSE: ENZ) today reported results for the fourth quarter and year ended July 31, 2012, and announced a Company-wide realignment program to improve profitability and reduce operating expenses. This program will begin to favorably impact financial results in the current quarter. Highlights of the program and fourth quarter results include:

Integration and streamlining of manufacturing and sales facilities and staff to reduce annualized operating expenses in excess of $6 million; improved product mix at Enzo Life Sciences to increase margins; additional benefits from realignment program to occur over balance of 2013 fiscal year.


Read at BioSpace.com


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