Skip to main content
Premium Trial:

Request an Annual Quote

Enzo Posts Strong Q1 Revenue and Income; Exec Hints Trend May Not Last

NEW YORK, Dec. 16 - Enzo Biochem today reported strong first-quarter revenue growth atop an increase in R&D spending and a jump in net income. However, a top executive hinted the results were largely due to "unusually strong"--yet short-lived--demand.

 

Total revenue for the period ended Oct. 31 was $17.4 million compared with $13.4 million one year ago, and R&D spending grew almost 34 percent, to $1.8 million.

 

Still, Enzo managed to post first quarter net income of $3.7 million, or $.13 per share, compared with $1.8 million, or $.06 per share, year over year.

 

The company said it had roughly $73.2 million in cash and cash equivalents as of Oct. 31.

 

However, Enzo President  Barry Weiner cautioned that while the three months ended Oct. 31 amounted to "a quarter of growth" for the company, investors should not "construe" the results as "indicative of what successive future quarters will look like." Still, he stressed the outlook "remains favorable."

The Scan

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.

New Insights Into TP53-Driven Cancer

Researchers examine in Nature how TP53 mutations arise and spark tumor development.

Mapping Single-Cell Genomic, Transcriptomic Landscapes of Colorectal Cancer

In Genome Medicine, researchers present a map of single-cell genomic and transcriptomic landscapes of primary and metastatic colorectal cancer.

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.