Latest Quarter Q2 2'nd qtr 10q Filed http://
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Posted On: 09/08/2015 8:30:17 AM
Latest Quarter Q2
2'nd qtr 10q Filed
http://www.sec.gov/Archives/edgar/data/128949...ai_10q.htm
Results of Operations for the Three-Months Ended June 30, 2015
For the three months ended June 30, 2015, total revenue increased to approximately $1.41 million from $1.02 million, an increase of 39% 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 fees associated with other tissue related products. The increase in revenue is due to growth in recurring storage fees and fees from other tissue related products. For the three months ended June 30, 2015 recurring revenues accounted for 47% of total revenue. Cord remains focused on strategic organic growth which management anticipates will provide sustainable operating cash flows and net income.
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Cost of services as a percentage of revenue increased to 36% for the three month period ending June 30, 2015 compared to 28% the same prior period of 2014. The increasing mix of business related to other tissue related products is a primary contributor to the increase in cost of services. The cost of services include transportation of the umbilical cord blood from the hospital to the lab, direct material plus labor costs for processing and cryogenic storage, and allocated rent, utility and general administrative expenses. Gross profit increased by approximately $0.17 million or 24% to approximately $0.90 million for the three month period ending June 30, 2015 from the prior three month period of 2014.
The Company’s income from operations was $0.03 million versus a loss of $0.11 million for the three month comparative period of 2015 from 2014. The Company’s net income was $0.40 million for the three month period ending June 30, 2015, compared to a net loss of $0.93 million for the period ended June 30, 2014. The large positive increase in net income for the three month period ending June 30, 2015 is primarily attributable to a one-time adjustment in accounts payable and accrued expenses of approximately $346,000 as more fully described in Note 5, Commitments and Contingencies, Pharmastem.
2'nd qtr 10q Filed
http://www.sec.gov/Archives/edgar/data/128949...ai_10q.htm
Results of Operations for the Three-Months Ended June 30, 2015
For the three months ended June 30, 2015, total revenue increased to approximately $1.41 million from $1.02 million, an increase of 39% 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 fees associated with other tissue related products. The increase in revenue is due to growth in recurring storage fees and fees from other tissue related products. For the three months ended June 30, 2015 recurring revenues accounted for 47% of total revenue. Cord remains focused on strategic organic growth which management anticipates will provide sustainable operating cash flows and net income.
21
Cost of services as a percentage of revenue increased to 36% for the three month period ending June 30, 2015 compared to 28% the same prior period of 2014. The increasing mix of business related to other tissue related products is a primary contributor to the increase in cost of services. The cost of services include transportation of the umbilical cord blood from the hospital to the lab, direct material plus labor costs for processing and cryogenic storage, and allocated rent, utility and general administrative expenses. Gross profit increased by approximately $0.17 million or 24% to approximately $0.90 million for the three month period ending June 30, 2015 from the prior three month period of 2014.
The Company’s income from operations was $0.03 million versus a loss of $0.11 million for the three month comparative period of 2015 from 2014. The Company’s net income was $0.40 million for the three month period ending June 30, 2015, compared to a net loss of $0.93 million for the period ended June 30, 2014. The large positive increase in net income for the three month period ending June 30, 2015 is primarily attributable to a one-time adjustment in accounts payable and accrued expenses of approximately $346,000 as more fully described in Note 5, Commitments and Contingencies, Pharmastem.
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