CTI GROUP (HOLDINGS) INC. REPORTS 2013 RESULTS
CTI Group (Holdings) Inc. (OTCQB:CTIG), a global provider of carrier-grade software solutions and services which empower organizations through communication analytics, reported results for the twelve months ended December 31, 2013. Revenues for the twelve months ended December 31, 2013 decreased to $15,482,996 as compared to revenues for the twelve months ended December 31, 2012 of $16,759,121. The decrease in revenues was primarily attributable to softness in United Kingdom revenues especially in our electronic invoice processing and management (“EIM”) segment due to a decrease in professional service revenue. The United Kingdom EIM decrease was partially off-set by an increase in revenue recognized in the United States in our call accounting management and recording (“CAMRA”) segment. The Company reported a net loss for the twelve months ended December 31, 2013 of ($1,102,810), or ($0.04) per share, as compared to a net income of $596,266, or $0.02 per share, for the twelve months ended December 31, 2012. The net loss for the twelve months ended December 31, 2013 was primarily attributable to the decrease in revenue in our United Kingdom EIM segment.
Commenting on the results, John Birbeck, CTI Group’s President and CEO, stated, “Although our 2013 results were not as strong as we had hoped, we are pleased that we saw growth in the United States CAMRA segment. We have continued the momentum in the CAMRA segment in 2014 with our largest CAMRA order to date and our EIM segment seems to be gaining momentum in 2014 after receiving its largest order in three-years. We are optimistic that such momentum will contribute to improved performance and improved profitability in 2014.”
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.
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® and Proteus® product suites offer Carriers a full array of Cloud-based, real-time 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 Europe, 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 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 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 such words as “anticipate”, “believe”, “estimate”, “could”, “should”, “would”, “seek”, “plan”, “expect”, “may”, “predict”, “project”, “intend”, “potential”, “continue”, “optimistic”, 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, including, but not limited to: economic conditions, risks associated with conducting business outside the United States, ability to obtain a loan facility or receive additional advances from beneficial owners, if needed, incurring additional losses, impact of accounting pronouncements, recording additional impairments, ability to maintain an effective system of controls over financial reporting and disclosure controls and procedures, effects of the recent U.S. recession and unstable global economy, 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 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