CTIG Announces 23% Increase in Revenues and a
Return to Profitability for Its Quarter Ended June 30,
1999
VALLEY FORGE, Pa.--(BUSINESS WIRE)--July 27, 1999-- CTI Group (Holdings) Inc. (OTC:CTIG - news) reported a
23% increase in revenues to $2,003,117 for its first quarter ended June 30, 1999 as compared to $1,626,510 for the
corresponding period in 1998.
The Company also reported a net income of $135,457 as compared to a net loss of ($340,880). Net income per common
share was $0.02 compared to a net loss of ($0.05) per share. The return to profitability was primarily achieved through
increased generation of revenues and operational efficiency.
Commenting on the results Mr. Johns, Chairman and CEO, stated ''The final stage of our cost cutting efficiency program has
now been completed in our recently acquired UK business operation. However, the quarter being reported does not reflect the
full benefit of these operational savings.
Therefore, these efficiency measures implemented, coupled with a continued growth in demand for our products and services,
lead us to anticipate a further improvement in our operating results for the coming quarter.
Having stated this we should caution the Company is unable to unlock the full upside potential of its products and services,
primarily in the newly emerging convergent internet/telephony billing market, due to its current working capital deficit. We are
therefore exploring various alternative opportunities to remove these restrictions in order to enhance shareholder value.''
This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially
from actual events or results. Readers are referred to documents filed by CTIG with the U.S. Securities and Exchange
Commission, specifically the most recent Form 10-KSB.
Contact:
CTI Group (Holdings) Inc.
Anthony P. Johns - Chairman & CEO, 610/666-1700
Fax: 610-666-7707
IBM Endorses CTI Software
VALLEY FORGE, Pa.--(BUSINESS WIRE)--July 26, 1999--CTI Group (Holdings) Inc.
(OTC:CTIG - news) today announces that its UK subsidiary CTI Data Solutions Limited has won an order with IBM UK Ltd
to supply its Cpro call management system to ICI Chemical and Polymers Ltd, one of IBM's premier accounts.
CTI will provide its Windows NT, Cpro application as an upgrade to the non-Year 2000 compliant call management systems
currently being used by ICI to provide management information on their telecommunications network.
''Since ICI is one of our most prestigious accounts, we spent considerable time evaluating the call management products
offered by many of the UK's maine manufacturers,'' explains Wendy Proctor, Network Specialist. ''We selected CTI's
product because it is functionally superior and well-proven in the Windows NT environment. CTI's attention to detail
throughout our tender process was unmatched, as is their flexibility to accommodate the increasingly sophisticated needs of our
customers. We look forward to working with CTI with more of our customers in the future.''
''Our call management products have always been regarded as the most advanced available,'' explains Tony Johns, CTI's
Chairman and CEO. ''This contract underlines our leadership in the high-end business market. We are also working with IBM
to offer a CTI-enabled Directory solution that works alongside our call management to provide a corporate address book with
screen-popping functionality.''
This release contains forward-looking statements that involve risks and uncertainties. Theses statements may differ materially
from actual future events or results. Readers are referred to documents filed by CTIG with the U.S. Securities and Exchange
Commission, specifically the most recent Form 10-KSB.
For more information, contact: Tony Johns, Chairman and CEO, CTI Group (Holdings) Inc., Valley Forge, PA 19484-0360,
Tel. 610/666-1700, Fax 610/666-7707.
Contact:
CTI Group (Holdings) Inc., Valley Forge
Tony Johns, Chairman and CEO, 610/666-1700
fax: 610/666-7707
|
