December 21, 1999 15:45
CRYO-CELL Releases 4th Quarter 1999 Interim Revenue Figures
CLEARWATER, Fla., Dec. 21 /PRNewswire/ -- Daniel Richard, Chief Executive Officer of CRYO-CELL International, Inc. (Nasdaq: CCEL), announced the company's fourth quarter interim revenue figures for the period ended November 30, 1999.
Highlights of the quarterly sales results include the following:
-- Q4, 1999 sales of $813,654 represent a 516% increase over Q4, 1998 sales of $132,009
-- YTD sales (12 months) of $1,675,694 represent a 406% increase over 1998 sales of $331,134 for the same period
-- Q4 sales represent a 146% increase over Q3 sales of $330,824
The fourth-quarter revenues include the previously announced partial State Revenue Sharing Agreement. In addition, the figures do not include a $100,000 irrevocable deposit that the Company received with a signed Letter of Intent for the marketing rights in Continental Europe. The balance of $1,300,000 will be recorded as a receivable when the final agreement is signed in the first quarter of fiscal year 2000.
Jill Taymans, Chief Financial Officer, stated, "The Company currently has $1,500,000 on hand with no debt. Considering the revenues that are currently being generated and the receipt of our accounts receivable, the Company will have sufficient operating capital for more than 24 months."
Gerald F. Maass, Executive Vice President and General Manager, commented, "The sales for the current month are reaching record levels. In addition, there are a number of marketing initiatives commencing in the first quarter of the Year 2000 which the Company believes will significantly increase its revenues."
The Company will complete its 10-KSB filing on a timely basis in the first quarter of 2000.
CRYO-CELL has pioneered America's most affordable U-Cord(TM) preservation program. Expectant parents can call 800-STOR-CELL (800-786-7235), or visit the web site: cryo-cell.com .
CRYO-CELL is a publicly traded company. Its common stock trades on the Nasdaq Stock Market (R) under the symbol CCEL.
Forward-Looking Statement
Statements wherein the terms "believes," "intends," or "expects" as used are intended to reflect "forward-looking statements" of the Company. The information contained herein is subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward-looking statements or paragraphs. Readers should carefully review the risk factors described in other documents the Company files from time to time with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and any Current Reports on Form 8-K filed by the Company.
SOURCE CRYO-CELL International, Inc.
/CONTACT: Sharon Will of Saggi Capital Corporation, 212-572-0762, or fax,
212-572-0764, for CRYO-CELL International, Inc./
/Web site: cryo-cell.com /
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