Cord Blood America.
Alte WKN: A0EAGC ISIN: US21839P1075 Symbol: CBAID
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. Â The total net loss decreased by more than $704,000.
The fiscal year 2011 resultsinclude revenues from the Company''s acquisitions in Germany and Argentina. Â "We are very pleased by these results and believe we are off Â to an excellent start in 2011. Â 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/...n-unscripted-and-uncensored) at 2 pm Pacific, 5 pm Eastern today, Monday, May 23.