Interesting Form 4 filing by CTIG.OB. Looks like an investment group (of which CTIG Chairman is the managing member) bought 667,351 shares this week at .38.
With .27/share in cash on the balance sheet, a strong Q3 earnings report, and a recent product launch...this stock could do well in the coming months.
CTI Group Reports Profitable 3rd Quarter and a 44% Increase in Revenues
Monday November 15, 4:45 pm ET
INDIANAPOLIS--(BUSINESS WIRE)--Nov. 15, 2004--CTI Group (Holdings) Inc. (OTCBB:CTIG - News), an international provider of billing management and transaction analysis software for the communications industry, reported revenues of approximately $4.2 million for the three months ended September 30, 2004 compared to approximately $2.9 million for the same period last year, an improvement of approximately 44%. For the nine months ended September 30, 2004, revenues increased to approximately $11.8 million from approximately $8.9 million for the same period last year, an increase of approximately 33%. The increase in revenues was primarily the result of increased revenues derived from new customers and the existing customer base combined with new patent license fee revenues.
The Company reported net income of approximately $450 thousand or two cents per share in the third quarter of 2004 compared to a net loss of approximately $480 thousand or two cent loss per share in the third quarter of 2003. For the nine months ended September 30, 2004, the Company reported net income of approximately $24 thousand or zero cents per share compared to a net loss of approximately $976 thousand or four cent loss per share for the same period in 2003. The improvement in reported net income was primarily driven by the increased revenue base.
Commenting on the results, Brad Houlberg, President and CEO, stated, "I am encouraged by the continued increase in revenues for the year. The six consecutive quarterly increases in revenues when compared to the prior year's quarters are indicative of strong Company momentum surrounding our core invoice management product SmartBill® and international telemanagement product Proteus(TM). We look forward in continuing the building momentum to the next year with the introduction of our new products, SmartBill® Connect, which is a web-based, interactive invoice management, analysis and reporting solution and SmartSpend® our new telecom expense management software."
About CTI Group
CTI Group (Holdings) Inc. is an international provider of next-generation billing management, telemanagement and data management software and services for telecommunications service providers and their corporate customers. CTI Group's SmartBill®, Proteus(TM) and Smart Spend® offer a full array of solutions for traffic analysis, mediation, post-billing call analysis, and customer care and billing. CTI Group's products are in daily use 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 around the world. Headquartered in Indianapolis, CTI Group maintains an overseas office in London. For more information, please visit CTI Group's website at www.ctigroup.com.
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 the Company or its management or Board of Directors; (c) statements of future economic performance; (d) statements of assumptions underlying other statements and statements about the Company and its business relating to the future; and (e) any statements using the words "could", "should", "anticipate", "expect", "may", "project", "intend" "will" or similar expressions. The Company's ability to predict projected results or the effect of events on the Company'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. In addition to information provided elsewhere in this document, shareholders should consider the following: the risk that the Company will not be able to attract and retain customers to purchase its products, the risk that the Company will not be able to commercialize and market products; results of research and development; technological advances by third parties; competition; future capital needs of the Company; history of operating losses; dependence upon key personnel and general economic and business conditions. Readers are referred to documents filed by CTI Group with the U.S. Securities and Exchange Commission, including the Form 10-KSB for its most recent fiscal year ended December 31, 2003 and Form 10-QSB filed for the quarter ended September 30, 2004.
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Contact:
CTI Group (Holdings) Inc.
Fred Hanuschek, 317-262-4666
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Source: CTI Group (Holdings) Inc.
