HemaCare Corporation (OTCBB:HEMA) announced today that the Company generated 2011 third quarter revenue of $4.0 million from continuing operations and net income of $512,000 or $0.05/share, including net income from discontinued operations of $1,090,000, compared to third quarter 2010 revenue from continuing operations of $3.9 million and a net loss of $626,000, or $(0.07)/share, including net income of $653,000 from discontinued operations. Results from discontinued operations included a gain of $2,802,000 on the sale of red blood cell collection assets to the American Red Cross.
“With the sale of our red blood cell business now complete, we believe we are better positioned to take advantage of numerous growth opportunities which play to our operational strengths.”
The Company generated 2011 year to date revenue of $12.1 million from continuing operations and a net loss of $130,000, or $(0.01)/share, including net income from discontinued operations of $1,375,000, compared to 2010 year to date revenue for continuing operations of $11.5 million and a net loss of $606,000 or $(0.06)/share, including net income of $1,645,000 from discontinued operations. Results from discontinued operations included a gain of $2,802,000 on the sale of red blood cell collection assets to the American Red Cross.
Commenting on the results, Pete van der Wal, HemaCare's Chief Executive Officer, said, "With the sale of our red blood cell business now complete, we believe we are better positioned to take advantage of numerous growth opportunities which play to our operational strengths."
First-of-its-kind AI tool predicts patient response to cancer drugs at single-cell resolution