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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
317.262.4666fhanuschek@ctigroup.com
Copyright ? 2008 Market Wire, Incorporated
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