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Cryo-Cell International, Inc. Reports Third Quarter 2008 Results
Date:10/15/2008

third quarter of 2008. The remaining $193,000 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. The Licensee income for the 2007 period consisted 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 nine month period ended August 31, 2008 were approximately $13.1 million as compared to approximately $13.2 million for the nine months ended August 31, 2007. The Company reported a net loss for the nine months ended August 31, 2008 of approximately ($792,000), or ($0.07) per basic common share, compared to a net loss of approximately ($3,338,000), or ($0.29) per basic common share, for the nine months ended August 31, 2007. The 76% decrease year over year in the net loss for the nine months ended August 31, 2008 is primarily the result of a 22% decrease in marketing, general and administrative expenses. In addition, research and development expenses were approximately $162,000 for the nine months ended August 31, 2008, a decrease of approximately 66% in comparison to the same period in 2008.

The Company recognized approximately $758,000 in licensee income for the nine months ended August 31, 2008, compared to approximately $779,000 for the 2007 period. Licensee income for the nine months ended August 31, 2008 consisted of the first installment of $100,000, from the sale of the C'elle license and royalty agreement with Lifecell International Private, Ltd. and the first installment of $100,000 from the sale of the U-Cord license and royalty agreement with Cryo-Cell de Venezuela, as described above. The remaining $562,000 is royalty income earned on subsequent processing and storage of specimens in geographi
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SOURCE Cryo-Cell International, Inc.
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