ENZO Biochem Reports Record Fiscal 2009 First Quarter Revenue (Financial Report‪)‬

Enzo Biochem, Inc. (NYSE:ENZ), a leading biotechnology company specializing in gene identification and genetic and immune regulation technologies for diagnostic and therapeutic applications, has announced operating results for the fiscal first quarter ended October 31, 2008. Total operating revenues for the period increased 8%, to $21.1 million, from $19.4 million in the corresponding year-ago period. Higher expenses resulting from the phase out of Enzo Clinical Labs' legacy billing system and implementation during the quarter of a new billing and accounts receivable system affected Enzo's contractual allowance and therefore revenues, and the provision for doubtful accounts. Also, a foreign exchange loss on an intercompany loan resulting from a strengthened dollar, along with sharply lower interest income primarily as a result of reduced money market rates, resulted in a first quarter net loss of $6.4 million, equal to ($0.17) per share, compared to a year ago loss of $1.2 million, or ($0.03) per share.