Cryo-Cell Tells its Story

Cryo-Cell International, Inc. recently issued a statement regarding the company's financial health and future plans. According to the folks at Cryo-Cell, things are going well in the umbilical cord blood banking industry and the outlook for the future is quite rosy.

The statement was issued prior to shareholder votes on a number of issues and was designed to prevent a takeover by David Portny by providing "the whole story".

Here's an excerpt from the Cryo-Cell statement:

"In spite of intense industry competition, Cryo-Cell's revenue increased by 129% from FY03 to FY06 from $7.5 million to $17.2 million. Following nine consecutive quarters of profitability from Q104 through Q106, in early 2006, your Board made the decision to invest in marketing activities and product diversification."

Whether you have an interest in the company or not, the statement provides an interesting look into the cord blood business and how companies like Cryo-Cell are approaching it. You can read the "whole story" here.