Enzo Biochem 1Q loss narrows on revenue boost

AP News
Posted: Dec 10, 2009 4:57 PM

Biotechnology company Enzo Biochem Inc. said Thursday its 2010 fiscal first-quarter loss narrowed on a boost in laboratory services and product revenue.

The company provides diagnostic services and makes research products and medical tools.

For the three months ended Oct. 31, the company lost $1.8 million, or 5 cents per share, compared with a loss of $6.4 million, or 17 cents per share, a year ago. Revenue rose 19 percent to $25.2 million from $21.1 million.

Revenue from tests and other products rose 8 percent during the quarter to $10.7 million while clinical lab services revenue climbed 36 percent to $11.1 million. Royalties and license fee income increased 14 percent to $3.3 million.

Enzo shares fell 18 cents, or 3.2 percent, to close at $5.38.