Cryo-Cell earnings steady

OLDSMAR — Cryo-Cell International Inc. (symbol: CCEL), an Oldsmar-based blood bank, reported a 142% increase in net income, or $3.4 million, for the 2010 fiscal year.

That growth came despite a slight decrease in revenues, from $17.7 million in 2009 down to $17.6 million.

A canceled contract led to part of the company's growth in profitability. Cryo-Cell canceled its storage contract with Safti-Cell, a company based in Arizona, in the fourth quarter of 2009. That move, which cost Cryo-Cell $697,000, depressed 2009 profits and led to 2010 savings of $230,000.