HemaCare Reports Smaller Loss for Its 3rd Quarter

HemaCare Corp., a Sherman Oaks provider of blood products, narrowed its loss in the third fiscal quarter that ended Sept. 30 to $435,000 from a loss of $696,000 the previous year. Revenues for the quarter were down 5% to $2.77 million from $2.93 million.

For the nine months, the loss was $1.64 million, down from a loss of $1.93 million for the first nine months of last year. Revenues for the period were $8.29 million, down 9% from $9.07 million a year earlier.

The company attributed third-quarter results to reduction of its research and development expenses to $571,000 from $784,000 last year. The company is testing a potential treatment for HIV / AIDS.

It said its core business of blood products sales and services has remained steady and profitable, but sales of platelets during the nine months were set back after some hospitals closed after the Jan. 17 earthquake.