Cord Blood America Inc Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
March 30, 2016 at 09:04 am EDT
Share
Cord Blood America Inc. announces earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue decreased to approximately $1.13 million from $1.20 million, a decrease of approximately 5.1% compared to the same period of 2014. The decrease in revenue is due primarily to a decrease in orders for the company's tissue procurement services. Net income was $0.02 million for the three month period ending December 31, 2015, compared to $0.02 million for the period ended December 31, 2014. EBITDA decreased to $0.12 million for the three month period ending December 31, 2015 from $0.15 million in 2014.
For the full year, the company reported total revenue increased to $5.26 million, an increase of 21.3% compared to $4.33 million over the same period of 2014. Revenues are generated primarily from three sources: new enrollment/processing fees; recurring storage fees (both from cord blood and cord tissue); and services related to the procurement of birth tissue for organizations utilized in the transplantation and/or research of therapeutic products. The increase in revenue is due to growth in recurring storage fees and fees from procurement of birth tissue related services. Net income was $0.44 million for the year ended December 31, 2015, an increase of $0.20 million from $0.24 million for the year ended December 31, 2014. EBITDA for the year ended December 31, 2015 was $0.79 million, compared to $0.31 million for the year ended December 31, 2014.
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.