Cryo-Cell International, Inc. Announces Earnings Results for the Second Quarter Ended May 31, 2012; Provides Earnings Guidance for the Fiscal Year 2013
July 18, 2012 at 11:04 am
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Cryo-Cell International, Inc. announced earnings results for the second quarter ended May 31, 2012. For the quarter, consolidated revenues for the second quarter of fiscal 2012 were approximately $4.4 million compared to approximately $4.6 million for the second quarter of fiscal year 2011. The company reported a net loss for the three months ended May 31, 2012 of approximately $3.2 million or $0.28 per basic share, compared to net income of approximately $177,000, or $0.01 per diluted share for the three months ended May 31, 2011. The decrease in net income for the three months ended May 31, 2012 was principally due to a 59% increase in selling, general and administrative expenses, due mainly to an increase of $726,000 in stock option compensation and the increase in sales and marketing initiatives.
The company announced that it certainly expects to be profitable for the fiscal year 2013.
Cryo-Cell International, Inc. is a cord blood banking company. The Company operates through three segments: cellular processing and cryogenic storage for family use, with a focus on the collection and preservation of umbilical cord blood and tissue stem cells; manufacture of PrepaCyte CB Processing System (PrepaCyte CB) units, the processing technology used to process umbilical cord blood stem cells, and cellular processing and cryogenic storage of umbilical cord blood stem cells for public use. The Company stores approximately 235,000 cord blood and cord tissue specimens. The specimens are stored in commercially available cryogenic storage units at its technologically and operationally advanced facility. The Company markets its cord blood stem cell preservation services directly to expectant parents and by distributing information through obstetricians, pediatricians, childbirth educators, certified nurse-midwives, and other related healthcare professionals.
Cryo-Cell International, Inc. Announces Earnings Results for the Second Quarter Ended May 31, 2012; Provides Earnings Guidance for the Fiscal Year 2013