CTI Group Reports 2011 Results
INDIANAPOLIS, March 30, 2012 /PRNewswire/ — CTI Group (Holdings) Inc. (OTCBB:
CTIG), an international provider of electronic invoice processing and management
(EIM), enterprise communications management software and services solutions, and
carrier class voice over internet protocol (VoIP) management applications,
reported results for the twelve months ended December 31, 2011. Revenues for the
twelve months ended December 31, 2011 increased to $16,969,053 as compared to
revenues for the twelve months ended December 31, 2010 of $15,236,306. The
increase in revenues was attributable to increases in demand from the UK EIM
operations and increases in demand in the United States and United Kingdom for
VoIP applications. The Company reported a net loss for the twelve months ended
December 31, 2011 of $640,751, or $0.02 per share, as compared to a net loss of
$3,328,115, or $0.11 per share, for the twelve months ended December 31, 2010.
The decrease in net losses for the twelve months ended December 31, 2011 was
primarily attributable to the increase in revenue and an impairment of goodwill
being recorded for the twelve months ended December 31, 2010 compared to no
impairment for the twelve months ended December 31, 2011.
Commenting on the results, John Birbeck, CTI Group’s President and CEO, stated,
“We are very encouraged by the continued improvement in our results. Although we
are reporting a loss for the year, we generated a profit for the fourth quarter
of 2011 of $162,301, due to an increase in revenues and cost containment
measures in the second half 2011. We anticipate that we will be able to continue
our revenue growth into the future.”
The Company’s hosted VoIP applications provide Contact Center facilities in the
“Cloud” for service provider and enterprise based hosted Contact Centers,
creating revenue opportunities for service providers through the delivery of
compelling value added services. CTI Group’s products include emPulse, a
real-time web-based communications management and analysis solution, and the
award-winning SmartRecord®, which enables service providers to selectively
intercept and record and analyze any communications on behalf of their hosted
and managed service customers.
The Proteus® suite of products is used by companies, institutions and government
agencies and financial institutions worldwide, to track communications activity
and to control costs associated with operating communications networks. Proteus®
performs functions of call accounting, cost allocation, client bill-back,
analyses of trunk traffic and calling and usage patterns, toll fraud detection,
directory services, integrates with SmartRecord® as well as with private branch
exchanges and control turrets.
The EIM suite of products includes: Analysis Online, for complete on-line
customer care of mobile, fixed line and data services; SplitBill to enable users
to automate Business vs Personal use; and Dynamic Reports, which is a “push”
analysis, billing and advertising medium for mobile, data and fixed line,
targeting the consumer and SMB markets. Specifically engineered to seamlessly
integrate with the service provider’s evolving online eBusiness strategy, these
business applications provide enterprise customers with customized access to
their provider’s eBusiness portal and their complex service invoices.
About CTI Group – CTI Group (Holdings) Inc. is an international provider of
electronic invoice processing and management, enterprise communications
management software and services solutions, and carrier class voice over
internet protocol (VoIP) management applications. CTI Group’s Analysis,
SmartBill®, SmartRecord®, emPulse, and Proteus® product suites offer a full
array of solutions for traffic analysis, post-billing call analysis, customer
care and call recording. CTI Group’s products are used by some of the top
service providers in North America and the United Kingdom, and play a trusted
role in managing telephony costs at major corporations internationally.
Headquartered in Indianapolis, CTI Group maintains overseas offices in London
and Blackburn, UK. For more information, please visit CTI Group’s website at
Safe Harbor Statement — This release may contain “forward-looking” statements.
Examples of forward-looking statements include, but are not limited to: (a)
projections of revenue, capital expenditures, growth, prospects, dividends,
capital structure and other financial matters; (b) statements of plans and
objectives of CTI Group or its management or Board of Directors; (c) statements
of future economic performance; (d) statements of assumptions underlying other
statements and statements about CTI Group and its business relating to the
future; and (e) any statements using the words “could”, “should”, “anticipate”,
“expect”, “may”, “project”, “intend”, “will”, “believe” or similar expressions.
CTI Group’s ability to predict projected results or the effect of events on CTI
Group’s operating results is inherently uncertain. Forward-looking statements
involve a number of risks, uncertainties and other factors that could cause
actual results to differ materially from those discussed in this document. These
factors include, but are not limited to: effects of recent economic crisis,
ability to attract and retain customers to purchase its products, ability to
develop or launch new software products, technological advances by third parties
and competition, ability to protect the Company’s patented technology, ability
to obtain settlements in connection with its patent enforcement activities and
the risks described in CTI Group’s periodic reports filed with the U.S.
Securities and Exchange Commission.
Contact: CTI Group (Holdings) Inc.
Fred Hanuschek – 317.262.4666; email@example.com
SOURCE CTI Group (Holdings) Inc.