HemaCare Reports Mid-Year Results
HemaCare Corporation (HEMA) today reported its financial results for the three and six months ended June 30, 2012. For the three month period, revenue rose by 1% to $4.27 million, while the loss from continuing operations decreased by 24% to $329,000 when compared to the year-earlier period. For the six month period, revenue rose by 7%, while the loss from continuing operations decreased by 41% to $544,000 compared to the year-earlier period.
Commenting on the results, Pete van der Wal, HemaCare’s Chief Executive Officer, stated, “While results showed improvement on the top and bottom line, higher gross profit margins and decreased operating expenses, we are not satisfied with current revenue growth and operating losses. We remain focused on our efforts to grow our higher-margin businesses with a goal of producing sustained profitable growth.”
Added van der Wal, “While no longer required to release financial results following deregistration of our shares earlier this year, we currently plan to release fully audited year-end results, as well as mid-year six month unaudited results, going forward.”
HemaCare Corporation is a blood services company serving healthcare providers and the scientific community for over 30 years. HemaCare and its subsidiary, Coral Blood Services, perform therapeutic apheresis services, provide human-derived biological products, and support the use of cellular therapies with apheresis collections.
The Company was founded in 1978 and is based in Van Nuys, California. It trades on the OTC Pink Market under the symbol “HEMA.”