LAS VEGAS, Aug. 11, 2011 /PRNewswire/ -- Cord Blood America, Inc. (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 to families nationwide and internationally, today announced revenues of $2.89 million for the first six months of 2011, up 61 percent compared to revenues of $1.79 million in the same period in 2010. Revenues for the second quarter ended June 30, 2011 totaled $1.43 million, up 50 percent compared to revenues of $951,561 in the second quarter of 2010.
Gross profit totaled $1.96 million for the first half of 2011, up 100 percent compared to 2010, and $970,603 in the second quarter of 2011, up 76 percent from the comparable period in 2010. "We anticipate that, by growing and expanding our business, and processing and storing cord blood in our own facilities, our direct costs will continue to decrease and our gross profits will continue to improve," said Matthew Schissler, co-founder and CEO.
"We are very pleased by our financial results and believe we will continue to improve our performance in the third quarter and beyond," Mr. Schissler said. "We are particularly pleased to report that our net loss decreased by 36 percent in the second quarter and by 31 percent for the first half of 2011."
Biocordcell Argentina S.A., Buenos Aires, contributed $890,000 to the six month revenue totals and Stellacure, GmbH, Hamburg Germany, which serves families in Germany, Spain and Italy, contributed $288,000 to revenues through June 30, 2011. The balance, $1.7 million, is from storing umbilical cord blood stem cells at birth for families in the U.S. and the collection of placentas for major
|SOURCE Cord Blood America, Inc.|
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