LOS ANGELES, Nov. 20 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board:
CBAI -
News), the umbilical cord blood stem cell preservation company (
http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells to families nationwide and internationally, announced today revenues for the first nine months of 2007 topped $5.698 million, up 121 percent compared to revenues of $2.582 million in the same period in 2006.
Revenues for the three months ended September 30, 2007 totaled $1.654 million, up 44.7 percent compared to revenues of $1.143 million in the third quarter of 2006.
The Company posted a gross profit of $2.384 million in the first nine months of 2007 and a gross profit of $994,449 in the third quarter. This compares to 2006 nine-month gross profit of $527,070 and a third quarter gross profit in 2006 of $250,104.
"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," said Matthew Schissler, CEO. "We are posting results that should be recognized as significant achievements by the financial markets and by our investors."
One key point Mr. Schissler stressed is that the loss from operations for the quarter ended September 30, 2007 is only $67, 082, down significantly from $672,239 for the three months ended June 30, 2007. "We said we want to run operationally profitable. This number is the biggest key indicator that the management is committed to this goal," said Cord Blood America's CEO.
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI - News) is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc. (OTC Bulletin Board: CBAI - News), visit our website at http://www.corcell.com. For investor information, visit http://www.cordblood-america.com.
Forward-Looking Statements
Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements including those related to the growth of the industry, new stem cell treatments, and the Company's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
CONTACT: Paul Knopick E & E Communications 949/707-5365 pknopick@eandecommunications.com
