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Cord Blood America, Inc. Announces 2009 First Quarter Results
Date:5/21/2009

Company Reports Improved Operating Results, Strengthened Balance Sheet

To Host Conference Call for the Investment Community at 11 a.m. Eastern Time Today

SANTA MONICA, Calif., May 21 /PRNewswire-FirstCall/ -- Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company (http://www.cordblood-america.com) focused on bringing the life saving potential of stem cells to families nationwide and internationally, announced today financial highlights for its 2009 first quarter for the period ended March 31, 2009. Some of the highlights include:

  • Improved operating results. The Company reduced its loss from operations from $0.4 million in its 2008 first quarter to $0.3 million in the 2009 first quarter.
  • Increased gross margin. The Company increased gross margin from 45.0% in the 2008 first quarter to 52.5% in the 2009 first quarter due to a more favorable mix of business, including a significantly higher percentage of revenue coming from the sale of umbilical cord blood stem cell preservation services.
  • Strengthened balance sheet. Indebtedness under the Company's convertible debentures declined from $6.8 million one year ago to $5.6 million at the end of the 2009 first quarter. Current liabilities fell from $13.6 million to $12.4 million.
  • Strong growth in billings for Company's core business. Cord's billings in the three-month period ended March 31, 2009 was $1.2 million, compared to $1.0 million in the year earlier period as reflected in the Company's deferred revenue. Deferred revenue consists of payments for enrollment in the program and processing of umbilical cord blood by customers whose samples have not yet been collected, as well as the pro-rata share of annual storage fees for customers
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SOURCE Cord Blood America, Inc.
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