CTI Group Reports First Quarter 2013 Results

CTI Group (Holdings) Inc. (OTCQB:CTIG), an international provider of electronic invoice processing and management (“EIM”) and call accounting management and recording (“CAMRA”) applications, reported results for the three months ended March 31, 2013.

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Indianapolis, IN (PRWEB) May 16, 2013

Revenues for the three months ended March 31, 2013 decreased to $3,885,326 as compared to revenues for the three months ended March 31, 2012 of $4,367,837. The Company reported a net loss for the three months ended March 31, 2013 of ($552,391), or ($0.02) per share, as compared to net income for the three months ended March 31, 2012 of $113,530, or $0.00 per share. The decrease in revenues was related primarily to a decrease from the Company’s EIM segment due to less processing revenue and a decrease in professional service revenue recognized for the three months ended March 31, 2013 compared to the three months ended March 31, 2012. The net loss in 2013 as compared to net income in 2012 was primarily attributable to decreased revenues in 2013.

Commenting on the results, John Birbeck, CTI Group’s President and CEO, stated, “Although we are disappointed with the quarterly results, we have seen signs of improvement in the number and quality of sales opportunities. We remain optimistic that we will be successful in winning these new opportunities to better position CTI Group to return to continued profitability and growth.”

The Company's CAMRA product offerings include hosted VoIP applications which are expected to help eliminate customer resistance to conversion to next-generation platforms, while creating new revenue opportunities for service providers through the delivery of compelling value added services. CTI Group's products include the award-winning SmartRecord®, which enables service providers to selectively intercept and record any communications on behalf of their hosted and managed service customers. 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. The Proteus® suite of products is used by companies, institutions and government agencies 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 and integrates with SmartRecord® as well as with other private branch exchange peripheral products.

The EIM suite of products includes: Analysis, 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.


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