Cord Blood America's quarterly profit increases Tools

RELATED CONTENT
Red Cross pumps up competition in Las Vegas blood market
Cord Blood America still struggles to make money
Guitarist glad to keep Blood, Sweat & Tears' hits alive
Cord Blood narrows loss, posts higher revenue in third quarter
Santoku America bought for $17.5 million by Molycorp
Cord Blood narrows net loss, report to regulators reveals
Cord Blood America signs letter to buy Cryo-Cell Mexico
IN BRIEF
Berkley among U.S. lawmakers on weeklong tour of Latin America
Patient pays for using her own blood
BY TIM O'REILEY
LAS VEGAS REVIEW-JOURNAL
Posted: Aug. 18, 2012 | 2:00 a.m.
Rising revenues in Argentina and lower overhead helped produce a rare quarterly profit at Cord Blood America.

Second-quarter revenues rose 26 percent compared to the same period a year ago, to $1.8 million, with the bulk of the improvement coming from the Biocordcell division in Argentina. Coupled with a one-fourth reduction in overhead, the company produced a net income of $148,000, or zero cents a share, compared to a loss last year of $1 million, or 1 cent a share.

Cord Blood stores umbilical cord blood collected at a child's birth because it is rich in stem cells. The hope is that medical research will discover cures for certain diseases that would use the stem cells, in addition to a few already available, so the stored blood could be used if the child needs it.

The lower overhead, according to the company's quarterly report, came from a companywide effort to cut spending as well as a reduced marketing budget.

For the six months to date, the revenues of $3.4 million were up 16.3 percent, while the loss fell to $1.1 million, or zero cents a share, from $2.8 million, or 4 cents a share.