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Champions Oncology Reports Fiscal 2012 First Quarter Financial Results
Date:9/13/2011

BALTIMORE, Sept. 13, 2011 /PRNewswire/ -- Champions Oncology, Inc. formerly Champions Biotechnology, Inc. (OTC: CSBR) reported the following results:

Fiscal Year 2012 First Quarter Financial Results:Total operating revenues for the first quarter of fiscal 2012 were $1.63 million compared to $1.60 million in the first quarter of fiscal 2011.  Total operating expenses for the first quarter of fiscal 2012 were $3.85 million compared to $2.20 million in the first quarter of fiscal 2011.

Champions reported a net loss of $2.04 million, or ($0.04) per share, compared to a net loss of $0.59 million, or ($0.02) per share, in the corresponding prior year quarter.

Champions recognized a net loss of $1.03 million excluding stock based compensation* of $1.01 million, or ($0.02) per share for the first quarter of fiscal 2012 compared to a net loss of $0.42 million excluding stock based compensation* of $0.17 million, or ($0.01) per share for the first quarter of fiscal 2011.

Services RevenuesRevenues from Translational Oncology Solutions (TOS) were $1.03 million for the quarter compared to $0.49 million in the corresponding quarter of the prior year, an increase of 110%.  The increase in TOS revenues was driven by an increase in the number of contracts over the prior period, resulting from the company's increased sales efforts.

Cost of TOS services for the first quarter of fiscal 2012 was $0.42 million which resulted in a gross margin of 59% as compared to 55% in the corresponding 2011 fiscal quarter.

Revenues from Personalized Oncology Solutions (POS) were $0.60 million compared to $1.11 million in the corresponding prior year quarter. This decrease was the result of the company's strategic decision to re-engineer its products to facilitate lower price points which are expected to result in higher volumes. During the quarter, the company did generate significantly higher volumes but these were not yet sufficient to
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SOURCE Champions Oncology, Inc.
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