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

cal 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 $255,000 received as an installment payment from the non-recurring sale of the India license agreement for the Company's U-Cord(R) service and $524,000 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.

As of August 31, 2008, the Company had approximately $4.4 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 third quarter of 2008 and by the 76% year over year decrease in the net loss through FY08. In accordance with our long-term strategic plan, we believe that the Company is making considerable progress towards profitability as we review our achievements during the first three quarters of fiscal 2008. Much of the progress stems from the build out on the launch of our new product, C'elle, combined with significant operating efficiencies," stated Mercedes Walton, Chairman and Chief Executive Officer.

"Looking ahead, the private cord blood bank industry may potentially face formidable challenges associated with the overall impact of the domestic economy on discretionary consumer and family spending. In addition, the increased prevalence of public cord blood banking offers families a practical alternative to private banking during times of economic hardship." Walton continued, "However, Cryo-Cell's recent announcement of C'elle's global expansion to seven countries of Europe, Latin America and Southeast Asia demonstrates growing worldwide interest from partners who are keenly eager to introduce our innovative C'elle service abroad. Taking int
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SOURCE Cryo-Cell International, Inc.
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