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news.Cord Blood America, the umbilical cord blood stem cell preservation company, has reported that revenues for the first nine months of 2007 topped $5.7 million, up 121% compared to revenues of $2.58 million in the same period in 2006.
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Revenues for the three months ended September 30, 2007 totaled $1.65 million, up 44.7% compared to revenues of $1.14 million in the third quarter of 2006.
The company posted a gross profit of $2.38 million in the first nine months of 2007 and a gross profit of approximately $1 million in the third quarter. This compares to 2006 nine-month gross profit of $527,070 and a third quarter gross profit in 2006 of $250,104.
Matthew Schissler, CEO of Cord Blood America, said: “The significant increase in revenue is partially due to the accretive acquisitions Cord Blood America has made, which increased the number of umbilical cord samples, and increased marketing efforts. We are posting results that should be recognized as significant achievements by the financial markets and by our investors.”