LOS ANGELES--(BUSINESS WIRE)--HemaCare Corporation, (OTCBB:HEMA) a leader in cell and tissue collection, processing, and cell therapy solutions, today reported financial results for the first six months of 2016, showing continued strong gains in both revenue and gross profit margins compared to the prior year. For the first half of 2016, revenue from continuing operations increased by 35% to $5.8 million, while gross profit margin rose to 51% from 43%. Loss from continuing operations narrowed to $79,000 from $849,000.
Pete van der Wal, HemaCare’s President and Chief Executive, stated, “We are pleased with the first half results for 2016, which we believe validate our strategic plan to focus exclusively on the high margin, rapid growth opportunities presented by our BioResearch Products and Services business, which sells human blood cells and other biological materials to companies and research institutions involved in immunotherapy research, cell therapy and regenerative medicine. We have the momentum to produce further growth for the balance of 2016 and beyond.”
Pete van der Wal, HemaCare’s President and Chief Executive, stated, “We are pleased with the first half results for 2016, which we believe validate our strategic plan to focus exclusively on the high margin, rapid growth opportunities presented by our BioResearch Products and Services business, which sells human blood cells and other biological materials to companies and research institutions involved in immunotherapy research, cell therapy and regenerative medicine. We have the momentum to produce further growth for the balance of 2016 and beyond.”
