Cryo-Cell Reports Financial Results for Fiscal Year Ended November 30, 2022
Consolidated revenues for fiscal 2022 were $30.3 million compared to $28.9 million for fiscal 2021.
- Consolidated revenues for fiscal 2022 were $30.3 million compared to $28.9 million for fiscal 2021.
- The Company reported net income of $2.8 million in fiscal 2022 or $0.33 per basic and diluted share, compared to net income of $2.1 million in fiscal 2021 or $0.26 per basic and $0.25 per diluted shares.
- Net income for the fiscal year ended November 30, 2022 was due to a 5% increase in revenue, a 2% decrease in cost of sales and a 7% increase in selling, general and administrative expenses compared to the prior fiscal year.
- Also included in net income for the twelve months ended November 30, 2021 was a public bank inventory impairment charge of $1.2 million.