Hot Stock in the Spotlight: Enzo Biochem Inc. (NYSE: ENZ)

On Tuesday, Enzo Biochem, Inc. (NYSE: ENZ) stock moved green with +2.64% in trading session and finally closed at $4.66. The firm after opening the first trading session at $4.54 Over the one year trading period, the stock has an above price of $11.50 and it’s below is recorded at $3.95. The company has a market cap of $219.793M. The company most recent volume stood at 111,590 shares as compared to its average volume of 144,919 shares.

Enzo Biochem Inc. (NYSE: ENZ)  stated results for the third fiscal quarter and nine months ended April 30, 2018, in addition to noting important progression of its planned plan aimed at providing cost-effective, high performing and easily adaptable products and services to hospital and independent laboratories.

Third Quarter Results

Total revenues in the quarter amounted to $25.6M or 5% lower than previous year Because of a decrease in services revenue. As noted above, services revenue was influenced in the third quarter by the loss of a large medical practice that internalized genetic testing ordering of about $1.9M, storm related weather in the Northeast that influenced operations about $1.0M, and an accounts receivable reserve adjustment of $0.5MBecause of a commercial payor payment practice. Despite these items, core service testing volume increased nearly 2%, or $2.0M, with growth in genetic and esoteric testing. Product revenue was slightly ahead of previous year at $7.4M as stated sales increased in Europe and stabilized in the U.S. The current quarter’s products revenue was influenced favorably by foreign currency movements of about $0.2M.

Gross margins in the quarter were 43% contrast with 45% in the previous year period. Total operating expenses were $13.9M contrast to $12.4M, a raise of $1.5M or 12%. Legal expenses were $1.7M and accounted for $1.1M of the increase in operating expenses together with marketing and sales related expenses of $0.3M in advance of launching new sales initiatives. The increase in legal expenses was principally related to the New York litigation with Roche, where Enzo is the plaintiff.

The GAAP and Non-GAAP net loss was $3.0M or $0.06 per share contrast to breakeven results or $0.00 per share in the previous year period.

EBITDA (earnings before interest, taxes, depreciation and amortization) and Adjusted EBITDA was a loss of $2.4M, contrast to EBITDA of $0.7M in the previous year period.


Section Results

Services revenues were $18.1M versus $19.6M in the previous year period as a result of the aforementioned specific items offset by growth in testing volume. Gross margins declined to 39.4%, from 42.1% a year ago. Operating income amounted to $0.5M, contrast to $1.5M, a year ago. Noteworthy was steady growth in tests using the newly installed AmpiProbe™ platform with importantly above average profit margins contrast to historical laboratory testing.

Products revenue increased to $7.4M from $7.3M a year ago. With costs well maintained, and sales of higher margin products, resulting from the unit’s recent product mix realignment, Life Science product profit margins advanced to 52%, from 51% a year earlier. Operating income approximated $0.4M for the April 2018 quarter and $0.6M in the year ago period.

Nine Month Results

Total products and services revenues year to date amounted to $80.3M, up 1% from $79.6M a year ago. Gross margins were 43.2%, vs. 44.9% a year ago, and SG&A as a percentage of revenue was 41% vs. 42%. Legal expenses amounted to $3.8M, up from $1.3M a year ago principally Because of litigation expenses in New York with Roche, where Enzo is the plaintiff. The GAAP and Non-GAAP net loss was $4.6M or $0.10 per share and $5.7M or $0.12 per share, respectively, contrast to GAAP and Non-GAAP net loss of $2.6M or $0.06 in the previous year period. EBITDA and Adjusted EBITDA was a loss of $3.9M contrast to a loss of $0.2M in the previous year period.

Enzo Biochem, Inc.’s (ENZ) EPS growth ratio for the past five years was 44.40% while Sales growth for the past five years was 0.90%. Return on equity (ROE) was noted as -5.10% while return on investment (ROI) was -3.50%. The stock’s institutional ownership stands at 71.30%.


Jessica Kraus-  Healthcare

I am Jessica Kraus and I give “” the best and deepest insights into the latest happenings in the Innovation and Healthcare segment. My journey started as an independent financial consultant for more than 11 years in the city and my craving to see the world has taken me to nations around the globe and given me the chance to report for a portion of the best news associations. Lately, I have started to use my envelopment and experience in healthcare financial news to become a full-time editor.

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