CTI Group Inc. recently released its financial report which shows that revenues and profitability were up in 2008 for the company.

 

John Birbeck, CTI (News - Alert) Group's President and CEO attributes the company’s success to their product development and said the increase, "demonstrates the benefits of our mixed services and license based business model in difficult times. We believe our strong performance better positions us to navigate the continuing challenging environment of 2009 and beyond."

 

For the 12 months ended December 31, 2008, the company’s revenues were at to $22,543,554 as compared to revenues for the twelve months ended December 31, 2007 of $21,344,922. In addition net income increased over the same period up $0.03 per share compared to the prior year.

"I believe, that the high level of innovation of our people continues to produce significant new products in E-Billing (EIM) and VoIP applications which positions us well to meet the growing demand of Telecom Service Providers expanding into fixed-mobile convergence,” said Birbeck.

CTI Group’s (News - Alert) hosted VoIP applications not only help service providers by creating new revenue opportunities but also help eliminate customer resistance to conversion to next-generation platforms and includes emPulse, a real-time Web-based communications management and analysis solution, and SmartRecord IP, which makes it possible to intercept and record communications.

“We expect that recent European legislation requiring all financial services companies to record calls will help drive demand of our SmartRecord products in Europe and Middle East, said Birbeck.

For electronic invoice processing and management, the company also offers an EIM suite of products to help companies save money and better provide services to their customers. CTI Group's eBilling software solutions include: Analysis, on-line customer care for mobile, fixed line and data services; SplitBill, which automates Business vs Personal use; and Dynamic Reports, a "push" analysis, billing and advertising medium for mobile, data and fixed line, targeting the consumer and SMB markets.

“The requirements of all telecoms companies to reduce costs and become more energy efficient are driving adoption of the on-line Analysis and Dynamic reports E-Billing products to replace paper and postage," said Birbeck.