Cord Blood America: First Quarter Revenues Up 74 Percent to $1.5 Million; Gross Profit Increases 132 Percent
LAS VEGAS, May 23, 2011 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAID), the umbilical cord blood stem cell preservation company focused on bringing the life saving potential of stem cells to families nationwide and internationally, today announced that revenues for the first quarter of 2011, ended March 31, totaled $1.458 million, up 74 percent compared to revenues of $0.839 million in the same period in 2010.
The Company announced that its gross profit increased to $986,710, up 132 percent compared to gross profit of $423,977 in the same period in 2010 and that the net loss from operations decreased more than one million dollars. The total net loss decreased by more than $704,000.
The fiscal year 2011 results include revenues from the Company's acquisitions in Germany and Argentina. "We are very pleased by these results and believe we are off to an excellent start in 2011. As we conclude the matters concerning the recent reverse split, which was approved by more than 80 percent of the shareholders who voted their proxy, we believe we will be able to make a strong case to our investors, and potential investors, about our achievements and future business strategies," said Matthew Schissler, co-founder and CEO.
Mr. Schissler will discuss the financial results on the "Catch Kevin" show on the Voice America Business Channel (http://www.voiceamerica.com/show/1807/catch-kevin-unscripted-and-uncensored) at 2 pm Pacific, 5 pm Eastern today, Monday, May 23.
The entire Form-10Q filing is available at www.sec.gov .
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
Safe Harbor: This press release contains forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned that such forward looking statements should not be construed as a guarantee or assurance of future performance or results. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained herein will in fact occur. These forward-looking statements are based on current expectations, and the Company assumes no obligation to update this information. Readers are urged to carefully review and consider the various disclosures made by the Company in its Form 10-K and in the Company's other reports filed with the Securities and Exchange Commission that discuss certain of the risks and factors that may affect the Company and its business.
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SOURCE Cord Blood America, Inc.