Enzo Biochem posted a strong increase in revenue for its fiscal 2021 second quarter, ended Jan. 31, amid strong demand for the life sciences’ company’s testing equipment amid COVID-19 pandemic.
Revenue climbed +62% year-over-year to $31.5 million in the quarter. The company’s earnings came in at 5 cents a share, compared to a year-ago loss of - 16 cents a share.
“Our open system approach allows for the highest levels of flexibility and adaptability in the post COVID-19 environment,” Barry Weiner, Enzo’s president, said. "Our GENFLEX platform enables laboratories to use third-party or their own reagents on this open platform with ease and flexibility."
The company announced that founder Elazar Rabbani is stepping down as CEO. However, Rabbani would a director.