Originally published at www.seclive.com
Filing in Focus: Cryo-Cell International 10-Q, July 15, 2013
Cryo-Cell International (OTCPK:CCEL) reported a second quarter revenue increase in its most recent form 10-Q filing of $500K, up to $4.9M from $4.4M last year this quarter. The world's first private cord blood bank reported a net loss of $244K, or losses per share of $0.02, compared to its net loss this quarter last year of $3.2M and $0.28 losses per share. The net loss is attributed to two one-time charges totaling $598K; $379K for abandoned patents and trademarks and $219K in legal fees related to a court case. As of May 31, the company reported an increase in cash and cash equivalents of $227K to $2.9M while it also maintains no long-term debt. Chairman and CEO David Portnoy remarked that the results show the company is growing stronger and that its sales and marketing initiatives are reaping results.
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