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Stock impact report

Enzo Biochem Reports Fourth Quarter and Fiscal Year 2024 Results and Announces Cash Dividend

Enzo Biochem, Inc. ($0.01 Par Value) (ENZ) 
Last enzo biochem, inc. ($0.01 par value) earnings: 12/7 04:10 pm Check Earnings Report
US:NYSE Investor Relations: enzo.com/corporate/investor-information
Company Research Source: GlobeNewswire
FARMINGDALE, N.Y., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Enzo Biochem, Inc. (NYSE: ENZ) (“Enzo” or the “Company”) today announced financial results for the fiscal fourth quarter ended July 31, 2024 and the fiscal year ended July 31, 2024. The Company also announced that its board of directors had authorized a cash dividend of $0.10 per share of its common stock. Full Year Highlights The Company's revenues in the 2024 period of $31.9 million improved year-over-year by 3%. Enzo’s sales to its industrial customers, which includes biotech and pharmaceutical companies, increased 46% driven by our drug development and cell and gene therapy focus.The Company’s FY24 gross margin was 46%. The prior year gross margin of 37% included a one-time inventory provision of finished goods. The 900-basis point improvement was driven by the non-repeating nature of the prior year inventory provision, reported revenue increase, mix of products sold, and ongoing cost containment initiatives, including r Show less Read more
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