Cryo-Cell International, Inc. Reports Third Quarter 20...(August 31 2007 and August 31 2006 includ...),Health
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Cryo-Cell International, Inc. Reports Third Quarter 2007 Results
Date:10/15/2007
August 31, 2007 and August 31, 2006 included approximately $255,000 and $149,000, respectively, of non-recurring income recognized on the payment of the installments for the India license agreement. The remaining $524,000 and $486,000 in for the nine month periods represents royalty income from licensees located outside of the United States and the sale of sublicense agreements.
As of August 31, 2007, the Company had approximately $4.8 million in available cash, cash equivalents, marketable securities and other investments, and it had no long-term debt.
"We believe that several factors may have potentially contributed to relatively flat revenues for Q307 including the overall state of the economy and its possible impact on discretionary consumer spending. In addition, we believe that expansion of public cord blood banks during 2007 may have possibly served to further intensify competition in the cord blood industry," stated Mercedes Walton, Chairman and Chief Executive Officer of Cryo-Cell. "These considerations notwithstanding, the Company intends to continue our strategic priority focus on achieving product diversification and on advancing plans to commercialize novel and compelling technology from Cryo-Cell's extensive portfolio of intellectual property. We reaffirm our commitment to deliver increased shareholder value in the coming periods."
About Cryo-Cell International, Inc.
Based in Oldsmar, Florida, with over 140,000 clients worldwide,
Cryo-Cell is one of the largest and most established family cord blood
banks. ISO 9001:2000 certified and accredited by the AABB, Cryo-Cell
operates in a state- of-the-art Good Manufacturing Practice and Good Tissue
Practice (cGMP/cGTP)- compliant facility. Cryo-Cell is a publicly traded
company. OTC Bulletin Board Symbol: CCEL. Expectant parents or healthcare
professionals may call 1-800-STOR-CELL (1-800-786-7235) or visit
http://www.cryo-cell.com.<
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| SOURCE Cryo-Cell International, Inc. Copyright©2007 PR Newswire. All rights reserved |
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