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CTI Group Reports Year End Results for 2007(Market Wire Via Thomson Dialog NewsEdge) INDIANAPOLIS, IN, March 28 / MARKET WIRE/ -- CTI Group (Holdings) Inc. (OTCBB: CTIG), an international provider of electronic invoice processing and management (EIM), enterprise communications management software and services solutions, and carrier class voice over internet protocol ("VoIP") management applications, reported revenues of $21,344,922 for the year ended December 31, 2007 compared to $12,811,385 for the year ended 2006. The increase in revenues was primarily the result of the reflection of the first full year of operation of the acquired operations of Ryder Systems, Limited ("Ryder") located in Blackburn, UK, which has been renamed CTI Billing Solutions Limited. The company reported a loss of $1,493,634, or $0.05 cents a share, in 2007 compared to a loss of $1,087,640, or $0.04 cents a share, in 2006. The increase in loss was primarily attributable to the company incurring interest expense of $427,518 in 2007 compared to interest income of $344,600 in 2006. This $772,118 swing was related to the cash used and debt incurred in the acquisition of Ryder. "We are very pleased with the performance of our acquired operations, CTI Billing Solutions Limited, which provides EIM software and solutions to major mobile phone carriers in Europe. With the first full year of operations of the new company behind us, we have made great strides towards the integration of Ryder with CTI Group including moving the development of all EIM products to the Blackburn office. The acquisition provides us with a growing recurring revenue stream with leading international telecommunications service providers, with the emphasis on mobility and new on-line services. Ryder has performed well, with three new carriers added in 2007," said John Birbeck, chairman, president and chief executive officer of CTI Group. The Company's new hosted voice and applications 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 new products include emPulse, a real-time web-based communications management and analysis solution, and the award-winning SmartRecord? IP, 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. "We believe we are well positioned to grow with the adoption by the market of distributed VoIP services as the Tier 1 carriers commence their roll-out in earnest," stated Mr. Birbeck. The Proteus? suite of products are 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 recording, call accounting, cost allocation, client bill-back, analyses of trunk traffic and calling and usage patterns, toll fraud detection, directory services and integration with other private branch exchange peripheral products. "With the launch of the new Proteus? VoIP QMS system in December, specifically designed for call manager networks, CTI now offers users a window into their VoIP networks," stated Mr Birbeck. 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, enterprise communications management software and services solutions, and carrier class voice over Internet protocol ("VoIP") management applications. CTI Group's SmartBill? and Proteus? product suites offer a full array of solutions for traffic analysis, post-billing call analysis, and customer care. CTI Group's products are used 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 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 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, 2007. Contact: CTI Group (Holdings) Inc. Fred Hanuschek [email protected] Copyright ? 2008 Market Wire, Incorporated |