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Cryo-Cell International, Inc. Reports Third Quarter 2007 Results
Date:10/15/2007

OLDSMAR, Fla., Oct. 15 /PRNewswire-FirstCall/ -- Cryo-Cell International, Inc. (OTC Bulletin Board: CCEL) (the "Company"), one of the world's largest and most established family cord blood banks, today announced results for the third quarter ended August 31, 2007.

Consolidated revenues for the third quarter were approximately $4.6 million, remaining relatively flat, to the approximately $4.6 million for the third quarter of 2006. The Company reported a net loss in the third quarter 2007 of approximately ($1.1 million), or ($0.10) per basic common share, compared to a net loss of approximately ($1.1 million), or ($0.09) per basic common share, in the third fiscal quarter of 2006. The net loss in the third quarter of 2007 remained relatively flat compared to the net loss in the third quarter of 2006. Cost of sales and marketing, general and administrative expenses in the third quarter of 2007 and 2006 remained constant. Marketing, general and administrative expenses primarily represent expenses associated with the previously announced strategic initiatives to strengthen the resources allocated to sales and marketing. Also, included in marketing, general and administrative expenses in the third quarter of 2007 was approximately $423,000 in professional fees associated with a proxy contest initiated by a dissident shareholder group. In addition, expenses in the third quarter of 2007 included approximately $163,000 in research and development expenses.

The Company recognized approximately $226,000 in licensee income for the third quarter of fiscal 2007, compared to approximately $165,000 for the third quarter of fiscal 2006. Licensee income for the third quarter of fiscal 2007 and 2006 represents royalty income from licensees located outside of the United States and the sale of sublicense agreements.

For the nine month period ended August 31, 2007, the Company's revenues were approximately $13.2 million, compared to approximately $12.8 million fo
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SOURCE Cryo-Cell International, Inc.
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