Thermogenesis Corp (NASDAQ:KOOL) released its first quarter fiscal 2007 numbers on Wednesday. Revenue increased more than 100% over the same quarter in fiscal 2006, and the quarterly loss was halved.
The developer of cell therapy storage and extraction systems used by umbilical cord blood banks was chosen as a BHI Stock Pick back in October.
During the last quarter, Thermogenesis's distribution partner GE Healthcare, a division of General Electric (NYSE:GE), became the exclusive distributor of the company's automated cell storage systems to the world's largest cord blood bank, CBR in New York. The agreement ensures the sale of the systems for the next 15 years!
It is not surprising to see Thermogenesis's revenues double, and will surely continue to do so in the coming year.
The total loss for the quarter was around $1 million, down from about $2 million in 2006. At this rate, it would not be surprising to see Thermogenesis become profitable within a couple of quarters.
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