HemaCare Reports Improved Six Month and Year End Results

HemaCare Reports Improved Six Month and Year End Results

LOS ANGELES--(BUSINESS WIRE)-- HemaCare Corporation (HEMA) today reported its financial results for the six months and year ended December 31, 2012. For the six month period, revenue rose by 13% to $9.2 million, while the loss from continuing operations decreased by 83% to $214,000 when compared to the year-earlier period. For the year ended December 31, 2012, revenue rose by 10% to $17.9 million, while the loss from continuing operations decreased by 65% to $758,000 compared to the year-earlier period. Total Company income was $1,163,000 for the year ended December 31, 2012 compared with a total Company loss of $805,000 for the year ended December 31, 2011.

ABOUT HEMACARE CORPORATION


HemaCare Corporation is a blood services company serving healthcare providers and the scientific community for over 35 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".

HemaCare Corporation and Subsidiaries

Six Months Ended

Year Ended

Statement of Operations Data

December 31,

December 31,

2012

2011

2012

2011

Revenue

$

9,164,000

$

8,099,000

$

17,911,000

$

16,245,000

Gross Profit

$

1,581,000

$

1,077,000

$

3,135,000

$

2,358,000

General and administrative expenses

$

1,792,000

$

2,317,000

$

3,870,000

$

4,707,000

Gain from insurance settlement

$

0

$

0

$

0

$

192,000

Loss before taxes and discontinued operations

($211,000

)

($1,240,000

)

($735,000

)

($2,157,000

)

Provision for income taxes

$

3,000

$

0

$

23,000

$

10,000

Net loss before discontinued operations

($214,000

)

($1,240,000

)

($758,000

)

($2,167,000

)

Income from discontinued operations, net of tax

($0

)

$

1,077,000

$

1,921,000

$

1,362,000

Net (loss) income

($214,000

)

($163,000

)

$

1,163,000

($805,000

)

HemaCare Corporation and Subsidiaries

Consolidated Balance Sheet Data

12/31/2012

12/31/2011

Assets:

Cash and cash equivalents

$

1,590,000

$

2,266,000

Other current assets

3,787,000

3,418,000

Non-current assets

2,607,000

3,023,000

Total assets

$

7,984,000

$

8,707,000

Liabilities and Shareholders' Equity:

Current liabilities

$

2,179,000

$

4,054,000

Long-term liabilities

426,000

521,000

Shareholders' equity

5,379,000

4,132,000

Total liabilities and shareholders' equity

$

7,984,000

$

8,707,000



HemaCare Corporation
Pete van der Wal, Chief Executive Officer
877-310-0717
www.hemacare.com

KEYWORDS: United States North America California

INDUSTRY KEYWORDS:

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