LOS ANGELES, Aug. 20 /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, today reported that revenues for the first six months of 2008, ended June 30, totaled $2.4 million.
Revenues were down from the same period in 2007 because of a $1.5 million decrease in revenues at Rainmakers International, the Company's advertising subsidiary. Rainmakers switched business strategies in late 2007, focusing on low cost, high volume, annuity based advertising rather than relying on a few large contracts. Benefits from the change in business plan are slowly being realized.
Gross profit as a percent of revenues increased over the period from 35 to 55 percent, due to a significantly higher proportion of revenue deriving from the Company's primary umbilical cord blood storage business. "I would also urge shareholders to focus on the decrease in the loss from operations, which we have cut in half. I believe this shows our focus and ability to structure a business entity that stands strong on its own," said Matthew Schissler, CEO, Cord Blood America.
"We are dedicated to growing our umbilical cord blood storage business through strategic organic growth and accretive acquisition strategies," Mr. Schissler said. "We remain confident about the future of our Company and its business strategies."
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) is the parent company of
CorCell, which facilitates umbilical cord blood stem cell preservation for
expectant parents and their children. Its mission is to be the most
respected stem cell preservation company in the industry. Collected through
a safe and non-invasive process, cord blood stem cells offer a powe
|SOURCE Cord Blood America, Inc.|
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