CBAI.OB share prices increased approximately 91% since the beginning of this month after the company announced strong performance and the acquisition of CureSource’s assets. Yesterday, the shares bounced off the 10-Day moving average and are now continuing the bullish trend.
In the press release announcing the strong financial performance, Matthew Schissler CEO of Cord Blood America, 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.”
He 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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