NEW YORK (GenomeWeb News) – Enzo Biochem reported after the close of the market Thursday that its first-quarter 2010 revenues increased 19 percent, led by a 36 percent jump in revenues for its Enzo Clinical Labs division.
The New York-based firm brought in total revenues of $25.2 million for the three-month period ended Oct. 31, 2009, compared to $21.1 million for the first quarter of 2009. Revenues for its Enzo Life Sciences division increased around 16 percent, with product revenues increasing to $10.7 million from $10 million year over year, and royalty and license fees increasing to $3.3 million from $2.9 million.
Assay Designs, a reagent kit maker that Enzo acquired earlier this year for around $12.2 million, contributed revenues of $2.7 million for the quarter.
Enzo Clinical Labs had revenues of $11.1 million for the quarter, up from $8.2 million in the comparable period of fiscal 2009.
Enzo Biochem's net loss dropped sharply to $1.8 million, or $.03 per share, from $6.4 million, or $.16 per share.
The firm finished the quarter with $46.4 million in cash, cash equivalents, and short-term investments.