HemaCare Loss Widens to $657,800 in Quarter
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HemaCare Corp., a Sherman Oaks supplier of blood-related products and services, said a temporary decline in its mobile service business in Los Angeles and costs associated with its AIDS research contributed to a wider loss in the second quarter.
In the three months that ended June 30, HemaCare lost $657,800, in contrast with a year-earlier loss of $215,554. Its revenue, however, rose 36% to $2.75 million from $2.03 million.
The company also said costs associated with its acquisition of Georgia Hemapheresis Services in Atlanta, which provides mobile blood-therapy services, also added to the loss. HemaCare agreed to acquire the physician-owned partnership on July 30 of this year, in exchange for $80,000 in restricted shares of HemaCare common stock.
HemaCare’s six-month loss was $636,413, compared to a loss of $363,564 a year earlier. Revenue increased to $5.93 million, up 52% from $3.9 million.
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