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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (12787)	7/27/1999 3:25:00 PM
From: ksuave	Respond to of 108040

CTIG -- this just keeps getting better, and asteal at 9/16. 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