Enzo Biochem (ENZ) has announced its financial performance for the first quarter, revealing a reduced loss compared to the same period last year. The company reported a net loss of $3.38 million, translating to $0.07 per share, an improvement from the previous year's loss of $6.62 million, or $0.13 per share.
When excluding certain items, Enzo Biochem's adjusted loss stood at $2.53 million, or $0.05 per share.
However, the company's quarterly revenue declined by 20.5%, dropping to $6.21 million from $7.81 million in the prior year's first quarter.
Key highlights of Enzo Biochem's earnings based on Generally Accepted Accounting Principles (GAAP) include:
- Earnings for Q1: a loss of $3.38 million, compared to last year's loss of $6.62 million.
- Earnings per share (EPS) for Q1: a loss of $0.07, improved from last year's loss of $0.13.
- Revenue for Q1: $6.21 million, down from $7.81 million the previous year.
