Cord Blood America Inc. Announces Earnings Results for the Second Quarter Ended June 30, 2016
August 12, 2016 at 05:46 pm IST
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Cord Blood America Inc. announced earnings results for the second quarter ended June 30, 2016. For the quarter, the company's total revenue was $0.79 million, a decrease of 43.8% from total revenue of $1.41 million for the second quarter 2015. The decrease in revenue is due primarily to the previously disclosed discontinuation of orders for tissue procurement services which accounted for $0.52 million in revenues for the three months ended June 30, 2015. EBITDA for the second quarter 2016 was $0.08 million, a decrease of 37.6% from EBITDA of $0.13 million for the second quarter 2015. The company's net loss was $0.03 million for the three month period ending June 30, 2016, compared to a net income of $0.40 million for the period ended June 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. 
