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Enzo Biochem Posts Broader Revenue and Income in Q3

NEW YORK, June 17 - Enzo Biochem today reported a narrow increase in total third-quarter revenue, a broader net income, and a slight jump in R&D spending.

 

Total revenue for the three months ended April 30 was $15 million compared with $14 million in the same quarter one year ago, the company said. Revenues from product development and clinical lab services grew to $8.2 million from $4.8 million, and to $6.8 million from $9.1 million, year over year, respectively.

 

R&D spending in the quarter was $2.1 million compared with $1.7 million in the same quarter 2001. As a result, the company reported a jump in net income to $2.6 million, or $.09 per share, from $1.9 million, or $.06 per share, in the year-ago period.

 

Enzo Biochem, based in Farmingdale, NY, said it had around $64 million in cash and cash equivalents as of April 30.

 

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