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
|SOURCE Cryo-Cell International, Inc.|
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