LAS VEGAS, Aug. 18 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (http://www.cordblood-america.com) (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells, a biological insurance policy, to families nationwide and internationally, announced today that revenues for the second quarter ended June 30, 2010, increased 12 percent to $951,561 compared to $813,950 in the same period in 2009.
Revenue increased due to Cord Blood America's purchase of 51 percent of the total outstanding shares of stellacure GmbH, a private German company which collects, processes and stores cord blood for use in Germany, Spain and other European and Middle Eastern countries.
Revenues for the first six months of 2010 totaled $1.79 million, up from $1.76 million in the first half of 2009. Cord Blood America announced a gross profit of $550,861 for the second quarter of 2010 and $974,838 for the first six months of the year.
"The stellacure acquisition, we believe, will serve as a strategic footprint for the growth of our stem cell business throughout Europe. stellacure sales channels started in 2009 in Spain and Italy are already providing immediate market penetration and a significant opportunity for growth," said Matthew Schissler, co-founder and CEO. "The established relationship stellacure has with the German Red Cross is, we believe, a potential catalyst for expansion of our services throughout the Continent."
Some of the financial highlights include:
Gross Profit was $550,861, up 10% from 2Q 2009.
Loss from operations was $1,484,564 a 200% increase from same period 2009; the loss from operations included a non-cash expense f
|SOURCE Cord Blood America, Inc.|
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