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

s relating to cord blood services, and from the sale of sub-license agreements by licensees.

As of May 31, 2008, the Company had approximately $4.2 million in available cash, cash equivalents, marketable securities and other investments. The Company had no long-term debt at the end of the quarter.

"We continue to be encouraged by Cryo-Cell's improved performance in the second quarter of 2008. In accordance with our long-term strategic plan, we believe that the Company is showing significant progress with the launch of our new product, C'elle, combined with the realization of significant operating efficiencies that have resulted in year over year expense reductions of 21% in the first half 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. During the first half of fiscal 2008, Cryo-Cell has demonstrated continuing progress towards profitability and we anticipate future progress in 2008 and beyond based on our solid platform as an industry leader of innovative stem cell solutions."

"Notwithstanding formidable challenges facing our business associated with the overall impact of the domestic economy on discretionary consumer and family spending, intensified industry competition and the cost of new product development, Cryo-Cell has now introduced a highly differentiated new service in the U.S. and is making significant progress toward introducing the new service in the global market place based on our expansive intellectual property portfolio. In parallel, the Company has also achieved impressive reductions in marketing, general and administrative expenses." Walton continued, "Our recent agreement with LifeCell International Pri
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SOURCE Cryo-Cell International, Inc.
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