Cord Blood America, Inc. Announces Earnings Results for the Third Quarter Ended September 30, 2016
November 14, 2016 at 08:16 am EST
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Cord Blood America Inc. announced earnings results for the third quarter ended September 30, 2016. For the quarter, total revenue was $0.77 million, a decrease of 45.8% from total revenue of $1.43 million for the third quarter 2015. EBITDA was $0.19 million, a decrease of 40.0% from EBITDA of $0.32 million for the third quarter 2015. The decrease in revenue is due primarily to the previously disclosed discontinuation of orders for tissue procurement services which accounted for $0.51 million in revenues for the three months ended September 30, 2015. The Company’s net income was $0.14 million compared to a net income of $0.23 million for the period ended September 30, 2015.
CBA Florida, Inc., formerly Cord Blood America, Inc., through its CorCell program and its subsidiary CorCell Companies, Inc., provides cord blood and cord tissue stem cell services. The Company's subsidiaries include Cord Partners, Inc., CorCell Companies, Inc., CorCell, Ltd., (Cord Partners, Inc., CorCell Companies, Inc. and CorCell, Ltd. are referred to collectively as Cord), CBA Properties, Inc. (Properties), and Career Channel, Inc. The Company and its subsidiaries provides private cord blood and cord tissue stem cell storage services to families throughout the United States and Puerto Rico, and Properties was formed to hold corporate trademarks and other intellectual property. Cord's operations provide umbilical cord blood banking and cord tissue services to expectant parents. Cord provides various services, which includes collection materials, physician and customer support, transportation, testing and cord blood storage.
CBA FLORIDA, INC.