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Cord Blood America, Inc. (OTC Bulletin Board: CBAI), the umbilical cord blood stem cell preservation company which is focused on bringing the life saving potential of stem cells to families nationwide (http://www.cordpartners.com), today announced that revenues for the year ended December 31, compared to revenues of $1.5 million in 2004.
The Company said gross profit increased 48 percent in 2005 to $513,340 and total assets increased from $334,074 at year-end 2004 to $2.2 million on December 31, 2005, a 568 percent increase.
"We continue to outpace the industry with our financial performance," said Chairman and CEO Matthew L. Schissler. "Our success in 2005 was due to increased marketing efforts, both print media and the Internet, more consistent communications with prospective customers by telephone, direct mail and e-mail, the addition of sales people with increased experience, and importantly an ongoing increase in repeat business and referrals."
Mr. Schissler said the foundation for continued success in 2006 includes increased strategic referral partnerships with Obstetrics and Gynecology practices and other healthcare professionals. "Partnering with medical professionals who work closely with expectant families will further enhance our long-term growth and profitability," Mr. Schissler said. "We already see improved results with the increase in customers referred to us by these physicians."
"We provide families with a convenient and customer friendly storage option for their child's own rich and abundant source of stem cells. Umbilical cord blood has emerged as an ideal source for stem cells that may provide a life-saving option to fighting a multitude of diseases in the future," Mr. Schissler said. "We are especially proud that our unique pricing program allows families to bank the umbilical cord blood stem cells without the major down payment that is required by other programs in the industry."
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