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Cryo-Cell International, Inc. Reports Second Quarter 2008 Results
Date:7/10/2008

pany's U-Cord(R) service and $136,784 of royalty income earned on the subsequent processing and storage of specimens in geographical areas where the Company has license agreements relating to cord blood services, and from the sale of sub-license agreements by licensees.

Consolidated revenues for the six month period ended May 31, 2008 were approximately $8.7 million as compared to approximately $8.6 million for the six months ended May 31, 2007. The Company reported a net loss for the six months ended May 31, 2008 of approximately ($603,000), or ($0.05) per basic common share, compared to a net loss of approximately ($2,190,000), or ($0.19) per basic common share, for the six months ended May 31, 2007. The decrease in the net loss for the six months ended May 31, 2008 is primarily the result of a 21% decrease in marketing, general and administrative expenses. In addition, research and development expenses were approximately $94,000 for the six months ended May 31, 2008, a decrease of approximately 70% in comparison to the same period in 2008.

The Company recognized approximately $465,000 in licensee income for the six months ended May 31, 2008, compared to approximately $552,000 for the 2007 period. Licensee income for the six months ended May 31, 2008 consisted of the first installment of $100,000, net of taxes, from the sale of the C'elle license and royalty agreement with ACCPL, as described above. The remaining $375,185 is royalty income earned on subsequent processing and storage of specimens in geographical areas where the Company has license agreements, and from the sale of sub-license agreements by licensees. Licensee income for the 2007 period consisted of $254,880 received as an installment payment from the non-recurring sale of the India license agreement for the Company's U-Cord(R) service and $297,339 of royalty income earned on the subsequent processing and storage of specimens in geographical areas where the Company has license agreement
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SOURCE Cryo-Cell International, Inc.
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