Cord Blood America announced this morning that its revenues totaled $2.346 million for the second quarter ended June 30, 2007, up 194% from the revenues in the same period in 2006. The revenues for the first six months of this year totaled $4.04 million, which is a 221% increase compared to the revenues from the first half of 2006.
The company also reported a substantial increase in its gross profit as it increased from $125,255 to $796,761. The gross profit for the first six months of 2007 totaled $1.396 million, up 1,439% compared to a gross profit of $96,641 in the first half of 2006. Net loss was decreased this year as it lowered from a 0.07 per share loss in 2006 to $0.04 a share this year.
The CEO Cord Blood America, Matthew Schissler, stated, “There were many positives in the first half of 2007 and a most important key indicator of this is gross profit, which increased from 21% of revenues to 34%. Economies of scale, especially for the Company’s Cord Blood division, started to positively impact the Company’s financial results. We intend to remain focused on our successful strategy of strategic, organic growth, accretive acquisitions and reducing overhead in the upcoming reporting periods.”
The CEO concluded, “Strong growth for the quarter, combined with a significant decrease in marketing costs, shows that the strategies we are pursuing are promoting excellent results. We are very pleased to present these financial achievements to our shareholders.”
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