Cord Blood America completed their best quarter announcing $3.89 Million in revenues. This is a 71% increase compared to the $2.28 Million made in 2005, and is the third consecutive quarter topping the million dollar plateau.
The company’s gross profit is up 37% from 2005 reaching $703,933 in 2006. Cord Blood America had an efficient year with net loss decreased significantly, in fact it dropped from $6.13 Million to $5.69 Million. The company also recorded a $2,112,505 interest expense, which accounted for approximately 35% of the loss. v Surprisingly, the large revenues did not include the recent acquisition of the nation’s fourth largest umbilical cord blood stem cell company. It will be included in the next release.
The CEO, Matthew Schissler, believes that the immense numbers will attract the attention of both investors and the financial markets. He also expresses the company’s encouragement, brought by the 2006 numbers. In closing, he mentions that there is a lot more work ahead for the company to accomplish.
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