Cord Blood America announced today that it has generated revenues of $5.698 million for the first nine months of 2007. This value is up 121% from revenues of $2.582 million for the same period last year.
Revenues for the quarter ended September 30, 2007 increased 44.7% to $1.654 million from revenues of $1.143 in the same period last year. The company also posted a gross profit of $2.384 million for the first nine months of 2007 and a gross profit of $994,449 for the third quarter of this year. Both of these values represent a significant increase compared to the gross profit of the first nine months of 2006 that totaled $527,070 and third quarter gross profit of $250,104.
Matthew Schissler, CEO of Cord Blood, stated, “The significant increase in revenue is partially due to the accretive acquisitions Cord Blood America has made, which increased the number of umbilical cord samples, and increased marketing efforts. We are posting results that should be recognized as significant achievements by the financial markets and by our investors.”
The CEO also pointed out that the loss from operations substantially decreased from $672,239 for the three months ended June 30, 2007 to only $67,082 for the three months ended September 30, 2007. He commented, “We said we want to run operationally profitable. This number is the biggest key indicator that the management is committed to this goal.”
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