Welcome to our dedicated page for Cryo-Cell Intl news (Ticker: CCEL), a resource for investors and traders seeking the latest updates and insights on Cryo-Cell Intl stock.
Cryo-Cell International reports news on cord blood banking, cord tissue cryopreservation, cellular processing and cryogenic storage. The company operates a private family-use cord blood bank, maintains a public banking program with Duke University, and holds exclusive rights to the PrepaCyte-CB cord blood processing technology.
Recurring updates cover financial results from processing and storage fees, product and public banking revenue, FACT and AABB accreditation matters, FDA-registered and cGMP-/cGTP-compliant operations, and ExtraVault biostorage and distribution services for biopharmaceutical companies and healthcare institutions. Company news also includes dividend actions, credit and capital-allocation decisions, and NYSE American continued-listing compliance developments.
Cryo-Cell International, Inc. (CCEL) announced its fiscal first-quarter results for the period ending February 28, 2023. The company reported revenues of $7.82 million, a notable increase from $7.26 million during the same period in 2022. Key revenue components included $7.56 million from processing and storage fees, $32,000 in product revenue, and approximately $231,000 from public banking efforts.
Net income for the quarter was approximately $767,000, or $0.09 per share, slightly down from $832,000 or $0.10 per share a year earlier. The increase in revenue was offset by a 15% rise in selling, general, and administrative expenses. The company remains focused on its transformation into a vertically integrated cellular therapy company.
Cryo-Cell International (CCEL) reported fiscal 2022 results with consolidated revenues of $30.3 million, up from $28.9 million in fiscal 2021. Processing and storage fees led revenue at $29.8 million. Net income grew to $2.8 million or $0.33 per share, compared to $2.1 million or $0.26 per share in 2021. Key factors included a 5% increase in revenue and a 2% decrease in the cost of sales. The company continues to expand services, including a partnership with Duke University and the launch of ExtraVault, enhancing its biostorage capabilities.
Cryo-Cell International (CCEL) reported a 3% revenue increase in Q3 2022, reaching $7.7 million, compared to $7.5 million in Q3 2021. Processing and storage fees accounted for the majority at $7.5 million. However, net income decreased to $467,000 ($0.06 per share) from $857,000 ($0.10 per share) year-over-year. Cost of sales fell by 4%, while SG&A expenses rose by 3%. The company highlights its partnerships and advanced processing technologies as core strengths.
Cryo-Cell International, Inc. (CCEL) has announced a special cash dividend of $0.90 per share for shareholders of record as of September 2, 2022. The decision reflects the Board's commitment to reward long-term investors while advancing its cellular therapies using cord blood and tissue. Founded in 1989, Cryo-Cell is renowned as the first private cord blood bank and has handled over 500,000 samples globally. The company also engages in clinical applications and has partnered with Duke University for public banking.
Cryo-Cell International, Inc. (CCEL) will transition its stock listing from the Nasdaq Capital Market to the NYSE American on August 30, 2022. Chairman David Portnoy believes this move will enhance trading liquidity for shareholders. The last trading date on Nasdaq is expected to be August 29, 2022. Founded in 1989, Cryo-Cell is renowned for being the first private cord blood bank, with over 500,000 parents utilizing its services globally. The company holds numerous accreditations and a partnership with Duke University, emphasizing its commitment to advanced cellular therapies.
Cryo-Cell International, Inc. (CCEL) reported a revenue increase of 6% in Q2 fiscal 2022, reaching $7.63 million compared to $7.21 million in Q2 fiscal 2021. Processing and storage fees accounted for $7.48 million. However, net income fell to $634,719 ($0.08 per basic share) from $1.17 million ($0.15 per basic share) year-over-year, driven by a 24% rise in selling, general, and administrative expenses. The company continues to enhance its services and expand its operations, including the launch of ExtraVault for biostorage.
Cryo-Cell International, Inc. (CCEL) reported financial results for the first quarter of fiscal 2022, ending February 28. Revenue increased to $7.26 million, up from $6.86 million year-over-year. Processing and storage fees accounted for $7.12 million of this total. Net income rose to approximately $832,000 or $0.10 per share, compared to $694,000 in the previous year. The company continues to focus on expanding its cellular therapy initiatives while managing costs effectively, despite a slight decrease in public banking revenue.
Cryo-Cell International (CCEL) has signed a purchase contract for a new 56,000 sq ft facility in the Research Triangle, NC, to enhance its cryopreservation services. This facility will support the launch of ExtraVault, aimed at providing biorepository services to biopharmaceutical companies. The company has over 30 years of experience in biological specimen handling and plans to implement a robust inventory management system. Cryo-Cell’s mission focuses on premier cryopreservation and cellular therapies, with a strong commitment to quality and innovation in the healthcare sector.
Cryo-Cell International, Inc. (CCEL) has issued its 2021 Annual Letter to shareholders, highlighting a cash flow of $7.9 million and a revenue decline to $28.9 million, down from $31.1 million in 2020. The net income also decreased to $2.1 million. Factors affecting performance included a drop in U.S. birth rates due to Covid-19, industry price pressures, and loss of a significant licensing agreement in India. Looking forward, the company plans to open a cellular therapy institute and has proposed the acquisition of a facility in Durham, NC for various operational expansions.
Cryo-Cell International (CCEL) reported fiscal 2021 results, revealing a decline in revenues to $28.9 million, down from $31.1 million in 2020. Processing and storage fees accounted for $28.4 million, while net income fell to $2.1 million ($0.26 per basic share), down from $3.6 million in the previous year. The company faced a 7% revenue drop and increased operational expenses. Notably, an impairment charge of $1.2 million was recorded due to changes in inventory recovery estimates. While the company continues its legacy as a leading cord blood bank, these results may raise concerns among investors.