Enzo Biochem (ENZ) Tops Q2 EPS by 2c

Enzo Biochem (NYSE: ENZ) reported Q2 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $26.3 million versus the consensus estimate of $26.1 million.

• Total revenues were $26.3 million, an increase of 7% over the prior year period.
• Clinical Labs revenues grew to $18.8 million, an increase of nearly 8%, representing the 5th straight quarter of growth. Reflecting the increased importance of higher margin molecular diagnostic tests (MDx), particularly women’s health, Clinical Labs increased gross margins 100 basis points and posted a 53% increase in operating profit compared to a year ago, excluding non-recurring items.
• Life Sciences’ product sales were $7.0 million, an increase of 6% over a year ago, as the business continues to prepare for introducing several key product lines later this year.
• Both operating units continued to be profitable and generated positive cash flow that provides capital for investment in the development of new products and services.
• GAAP net loss was ($1.1) million or ($0.02) per share compared to a GAAP net income of $6.8 million or $0.15 per share in the prior year period. Non-GAAP net loss was ($1.1) million or ($0.02) per share compared to a Non-GAAP net loss of ($3.3) million or ($0.07) per share in the prior year period.
• Cash and cash equivalents and working capital at January 31, 2017 remain strong at $62.4 million and $69.3 million, respectively.

For earnings history and earnings-related data on Enzo Biochem (ENZ) click here.

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