Enzo Biochem Inc. (ENZ) saw its loss narrow to $2.28 million, or $0.05 a share for the year ended Jul. 31, 2015. In the previous year period, the company reported a loss of $9.98 million, or $0.23 a share. Revenue during the year went up marginally by 1.72 percent to $97.60 million from $95.95 million in the previous year. Gross margin for the year expanded 44 basis points over the previous year to 43.88 percent. Operating margin for the year stood at negative 1.24 percent as compared to a negative 10.61 percent for the previous year.
Operating loss for the year was $1.21 million, compared with an operating loss of $10.18 million in the previous year.
Operating cash flow remains negative
Enzo Biochem Inc. has spent $3.70 million cash to meet operating activities during the year as against cash outgo of $1.70 million in the last year.
The company has spent $1.75 million cash to meet investing activities during the year as against cash outgo of $0.83 million in the last year.
Cash flow from financing activities was $6.22 million for the year, down 42.98 percent or $4.69 million, when compared with the last year.
Cash and cash equivalents stood at $18.11 million as on Jul. 31, 2015, up 3.75 percent or $0.65 million from $17.46 million on Jul. 31, 2014.
Working capital increases sharply
Enzo Biochem Inc. has recorded an increase in the working capital over the last year. It stood at $22.53 million as at Jul. 31, 2015, up 42.84 percent or $6.76 million from $15.77 million on Jul. 31, 2014. Current ratio was at 1.94 as on Jul. 31, 2015, up from 1.63 on Jul. 31, 2014.
Cash conversion cycle (CCC) was almost stable at 43 days for the year, when compared with the last year. Days sales outstanding went up to 57 days for the year compared with 47 days for the same period last year.
Days inventory outstanding has decreased to 51 days for the year compared with 59 days for the previous year period. At the same time, days payable outstanding went up to 65 days for the year from 63 for the same period last year.
Debt remains stable
Short-term debt remained stable at $3.01 million as on Jul. 31, 2015, when compared with the last year. Total debt was 4.41 percent of total assets as on Jul. 31, 2015, compared with 4.68 percent on Jul. 31, 2014. Debt to equity ratio was at 0.07 as on Jul. 31, 2015, down from 0.08 as on Jul. 31, 2014.
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