LAS VEGAS, April 16, 2012 /PRNewswire/ -- Cord Blood America, Inc. (www.cordblood-america.com) (OTC Bulletin Board: CBAI), 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 2011 increased 37 percent to $5.67 million compared to $4.13 million in 2010. The Company announced a gross profit increase in 2011 of $1.3 million, or 52 percent, to $3.8 million.
"We are pleased with the increase in revenues," said Matthew Schissler, co-founder and CEO. "We are also pleased that we continue to reduce overhead and administrative expenses. Our efforts to reduce these expenses have paid and will continue to pay dividends for the Company and its investors."
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"Revenues were generated from our operations in the U.S., with our major storage facility in Las Vegas, and by our ownership or affiliations with companies in South America and Europe and revenue generation also occurred from placenta collection services for major tissue banks," Mr. Schissler said.
"The Company continues to report increases in revenue and gross profits. While progress has been made on the expense side, we will continue to evaluate future actions that reduce both future costs and existing obligations. We need to be very aggressive in this strategy," said Matthew Schissler, co-founder and CEO.
About Cord Blood America
Cord Blood America is the parent company of CorCell, which facilitates umbilical cord blood stem cell preservation for expectant parents and their children. Its mission is to be the most respected stem cell preservation company in the industry. Collected through a safe and non-invasive process, cord blood stem cells offer a powerful and potentially life-saving resource for treating a growing number of ailments, including cancer, leukemia, blood, and immune disorders. To find out more about Cord Blood America, Inc., visit our website at http://www.corcell.com/. For investor information, visit http://www.cordblood-america.com/.
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Some statements made in this press release are forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We use words such as "anticipate," "believe," "expect,'' "future," "intend," "plan," and similar expressions to identify forward-looking statements. These statements including those related to the growth of the industry, new stem cell treatments, and the Cord Blood America's performance, are only predictions and are subject to certain risks, uncertainties and assumptions. Additional risks are identified and described in the Company's public filings with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
SOURCE Cord Blood America, Inc.