ENZN (+ 8.25%) reported this morning.. at least now we know Enzon Reports Third Quarter Fiscal Year 1999 Earnings
techstocks.com
PISCATAWAY, N.J.--(BUSINESS WIRE)--May 10, 1999--Enzon, Inc. (Nasdaq:ENZN - news) announced today a net loss
of $1,441,000, or $0.04 per share, for the three months ended March 31, 1999, compared to a net loss of $1,727,000, or $0.06 per share, for the same period in
fiscal year (FY) 1998.
Sales of Enzon's FDA approved products ADAGEN(r) and ONCASPAR(r) increased by 21% to $3,136,000 for the three months ended March 31, 1999, as
compared to $2,592,000 for the same period last year.
Costs of sales, as a percentage of sales, increased to 42% for the three months ended March 31, 1999 as compared to 25% for the same period in 1998. The
increase was primarily due to an increase in ONCASPAR production costs related to a previously disclosed manufacturing problem. Enzon has instituted temporary
labeling and distribution modifications for ONCASPAR while the problem is being resolved. |
