Enzo Biochem Reports Q2 EPS of $(0.15) vs. $(0.10)

Enzo Biochem, Inc. ENZ today reported improved results for the second fiscal quarter ended January 31, 2011.

Total revenue for the second quarter of fiscal 2011 increased 2% to $23.7 million, from $23.2 million a year ago, primarily as a result of higher revenue at Enzo Clinical Labs, partially offset by lower product revenue and reduced royalty and licensing fee income at Enzo Life Sciences.

The net loss decreased more than 44% to ($5.7) million or ($0.15) per diluted share from the corresponding year-ago period of ($10.3) million, or ($0.27) per diluted share. After adjusting for a legal settlement and related costs of $3.7 million in the year ago period, the net loss improved by more than 14%. EBITDA improved by more than $4.5 million and, adjusted for the settlement, improved by $0.8 million to ($4.5) million.