On November 1, 2007 Cryo-Cell commercially launched the C'elle menstrual stem cell preservation and storage service, an innovative and proprietary new service based on the Company's extensive patent portfolio of intellectual property. C'elle represents a major milestone in the Company's strategic plan to achieve product diversification, and the new service is expected to contribute to future revenue growth and earnings. In parallel, Cryo-Cell is also implementing plans to license C'elle technology in strategic global markets that may potentially serve to generate additional new sources of revenue.
"We are encouraged by Cryo-Cell's improved performance in the first quarter of 2008. In accordance with our long-term strategic plan, we believe that the Company is progressing well in the early phase of fiscal 2008," stated Mercedes Walton, Chairman and Chief Executive Officer. "In 2006, following nine consecutive quarters of profitability spanning the first quarter of 2004 through the second quarter of 2006, Cryo-Cell's Board of Directors made the deliberate decision to forsake continued near-term profitability in order to invest in the long-term growth of our business. At this juncture, we are pleased with early indicators that we believe reflect growing interest in C'elle, as both a standalone direct-to-consumer service and as a uniquely differentiated combination service offered along with our signature UCord(R) product."
"Notwithstanding formidable challenges associated with new product
development, intensified industry competition and the overall impact of the
economy on discretionary consumer spending, the Company has maintained a
steadfast focus on our comprehensive strategic plan to achieve product
diversification and advance commerc
|SOURCE Cryo-Cell International, Inc.|
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