SINGAPORE (Feb 12): Cordlife Group has swung back to profitability in 2Q18, posting earnings of $0.74 million, compared to a loss of $2.28 million in 2Q17.
Revenue for the quarter came in at $16.4 million, 7.6% higher than $15.2 million a year ago, mainly contributed by India, the Philippines and Singapore.
Revenue per customer in India and the Philippines increased due to lower discounts given in India and higher contract prices in the Philippines. These pricing revisions were provided in lieu of more value-added services provided to clients in these countries. The increase in revenue in Singapore was mainly due to more client deliveries