Enzo Biochem Reports First Quarter Fiscal Year 2025 Results and Provides a Company Update

Core Insights - Enzo Biochem, Inc. reported a revenue decline of 20% year-over-year for the fiscal first quarter, totaling $6.2 million, attributed to decreased market demand in the life sciences tools sector [2][11] - The company ended the quarter with cash and cash equivalents of $47.7 million, a decrease from $52.4 million at the end of the previous fiscal year [2][12] - A special cash dividend of $0.10 per share was declared and paid to shareholders on December 2, 2024 [3] Financial Performance - The gross profit for the first quarter was $2.3 million, representing a gross profit margin of 37%, down from 44% in the same quarter of the previous year [11] - The operating loss for the quarter was $3.6 million, an improvement from a loss of $5.5 million in the prior year [11] - The net loss from continuing operations was $3.1 million, compared to a loss of $5.7 million in the same period last year [11] Balance Sheet Highlights - As of October 31, 2024, total assets were reported at $75.3 million, down from $85.8 million at the end of the previous fiscal year [12] - Stockholders' equity decreased to $47.7 million from $56.1 million [12] - Working capital was reported at $36.3 million, down from $45.2 million [12] Recent Developments - Jon Couchman was appointed as a director and member of several committees, bringing significant public company experience [4] - The company continues to focus on its Life Sciences division, which includes a wide range of products for translational research and drug development [5]