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Cryoport Reports 92% Revenue Growth for First Quarter of Fiscal 2015
Date:7/31/2014

LAKE FOREST, Calif., July 31, 2014 /PRNewswire/ -- Cryoport, Inc. (OTCBB: CYRX) today announced financial results for the three month period ended June 30, 2014.

Recent Operating Highlights

  • Achieved 92% revenue growth to $0.94 million for the three month period ended June 30, 2014 compared to the prior year quarter
  • Partnered with DHL to further expand Cryoport's global reach using the 'powered by CryoportSM'' strategy
  • Advanced support of Immudex, an immunotherapy and vaccine development services company, to support its global distribution of biological materials using Cryoport solutions  
  • Continued advancement with Cenetron Diagnostics, an industry leading central laboratory services provider, to support its growth with Cryoport's customized cryogenic logistics solution
  • Commenced engagement with Glaukos Corporation, a leading ophthalmic medical device company, to support international shipments of sensitive biologic material from iStent® clinical trial with Cryport's turn-key frozen logistics solution
  • "We continue to make significant strides in our business development efforts as demonstrated over the last several quarters. This includes closing a number of strategic customer deals and partnership agreements that will contribute significantly to future revenue growth," stated Jerrell Shelton, Chief Executive Officer of Cryoport. "Our focus on scaling operations in order to drive profitable growth for the business is quickly being recognized.  For the first quarter of fiscal 2015, revenue increased 92% to $0.94 million, with a gross margin of 36%, compared to $0.49 million in revenue and a gross margin of 11% for the same period last year."

    Mr. Shelton further stated, "We continue to move forward with our 'powered by CryoportSM' partnering strategy designed to expand our sales and marketing reach as well as increase the awareness of our solution
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    SOURCE Cryoport, Inc.
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