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NeoStem Provides Updates, Reports Results for Third Quarter and Upcoming November Company Presentations
Date:11/11/2011

NEW YORK, Nov. 11, 2011 /PRNewswire/ --NeoStem, Inc. (NYSE Amex: NBS) ("NeoStem" or the "Company"), an international biopharmaceutical company with a focus on cell based therapeutics development, today reported third quarter results and recent progress in its business.

NeoStem reported its unaudited results for the three and nine months ended September 30, 2011. Revenues for the three and nine months ended September 30, 2011 were $17.8 million and $55.9 million compared to $16.5 million and $51.7 million for the same periods in 2010.

Erye's sales for the quarter were lower than the same period last year due to a strategic decision in the China pharmaceutical business to reduce lower margin API products in order to increase capacity for higher margin products.  In addition, foreign currency exchange rate changes have had a positive impact on sales. The migration of manufacturing operations from the predecessor plant to the new state-of-the-art facility has been substantially completed, making the company more competitive in the marketplace.

Net losses attributable to our controlling interests were $7.5 million, or $0.08 per share (including $1.5 million of non-cash equity-based compensation and $2.2 million of depreciation and amortization), and $28.8 million or $0.35 per share (including $8.2 million of non-cash equity-based compensation and $6.8 million of depreciation and amortization) for the three and nine months ended September 30, 2011, respectively.  Net losses attributable to our controlling interests were $7.1 million, or $0.13 per share (including $5.3 million of non-cash equity-based compensation and $1.8 million of depreciation and amortization), and $17.3 million, or $0.36 per share (including $7.4 million of non-cash equity-based compensation and $2.6 million of depreciation and amortization) for the three and nine months ended Septembe
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SOURCE NeoStem, Inc.
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