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Revenues were down from the same period in 2007 because of a $1.5 milliondecrease in revenues at Rainmakers International, the Company's advertisingsubsidiary. Rainmakers switched business strategies in late 2007, focusing onlow cost, high volume, annuity based advertising rather than relying on a fewlarge contracts. Benefits from the change in business plan are slowly beingrealized.
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Gross profit as a percent of revenues increased over the period from 35 to55 percent, due to a significantly higher proportion of revenue deriving fromthe Company's primary umbilical cord blood storage business. "I would alsourge shareholders to focus on the decrease in the loss from operations, whichwe have cut in half. I believe this shows our focus and ability to structurea business entity that stands strong on its own," said Matthew Schissler, CEO,Cord Blood America.
"We are dedicated to growing our umbilical cord blood storage businessthrough strategic organic growth and accretive acquisition strategies," Mr.Schissler said. "We remain confident about the future of our Company and itsbusiness strategies."
About Cord Blood America
Cord Blood America (OTC Bulletin Board: CBAI) is the parent company ofCorCell, which facilitates umbilical cord blood stem cell preservation forexpectant parents and their children. Its mission is to be the most respectedstem cell preservation company in the industry. Collected through a safe andnon-invasive process, cord blood stem cells offer a powerful and potentiallylife-saving resource for treating a growing number of ailments, includingcancer, leukemia, blood, and immune disorders. To find out more about CordBlood America, Inc. (OTC Bulletin Board: CBAI), visit our website athttp://www.corcell.com. For investor information, visithttp://www.cordblood-america.com.CONTACT: Paul Knopick E & E Communications 949/707-5365 [email protected]
SOURCE Cord Blood America, Inc.
