Enzo Biochem Clocks 27% Revenue Growth In Q4, Margin Remains Stable

Biosciences and diagnostics company Enzo Biochem Inc ENZ reported fourth-quarter FY21 revenue growth of 27% year-on-year to $24.8 million. Revenue decreased 24% sequentially.
The results reflect strong product sales, moderated by a slow-down in COVID-19 testing during the summer months.
Segments: Enzo Clinical Lab revenue increased 30% Y/Y to $16.8 million. Enzo Life Sciences revenue was $8.1 million, up 38% Y/Y.
Margin: The consolidated margin remained stable at 40%.
Non-GAAP EPS was $0.07 versus $(0.07) in the year-ago quarter.
Selling, general and administrative expenses for the quarter increased 18% to $11.8 million.
Enzo Biochem held $43.5 million in cash and equivalents.
Price Action: ENZ shares traded lower by 2.93% at $3.97 in the premarket session on the last check Tuesday.

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