Cord Blood America Inc. is the parent of CorCell, which facilitates umbilical cord blood stem cell preservation. Cord blood stem cells offer a potentially life-saving resource for treating a growing number of ailments including cancer, leukemia, blood and immune disorders.
The company today announced its financial results for the first half of 2011. It reported revenues of $2.89 million for the first six months of 2011, up 61% compared to revenues of $1.79 million in the same period in 2010. Revenues for the second quarter ended June 30, 2011 totaled $1.43 million, up 50% compared to 2010′s second quarter revenues of $951,561.
It has benefited from overseas acquisitions with foreign subsidiaries contributing $1.178 million towards the first six months revenue with the U.S. making up the rest. Cord Blood America’s gross profit for the first half of 2011 totaled $1.96 million, up 100% compared to last year’s total. It was up 76% from the 2010 second quarter period to $970,603.
Cord Blood America stated that it is continuing to develop further relationships with insurance companies. The company has also announced multiple new contracts in 2011 that it believes will fuel organic growth. It believes the trend toward smaller net losses and improved profitability will continue going forward.
For additional information on Cord Blood America, please visit www.corcell.com or www.cordblood-america.com
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