CTI Group Reports 2011 Results

Apr 04, 2012 (Close-Up Media via COMTEX) -- CTI Group reported results for the 12 months ended Dec. 31, 2011.

In a release dated March 30, the Company said revenues for the 12 months ended Dec. 31, 2011 increased to $16,969,053 as compared to revenues for the 12 months ended Dec. 31, 2010 of $15,236,306. The increase in revenues was attributable to increases in demand from the UK EIM operations and increases in demand in the United States and United Kingdom for VoIP applications. The Company reported a net loss for the 12 months ended Dec. 31, 2011 of $640,751, or $0.02 per share, as compared to a net loss of $3,328,115, or $0.11 per share, for the 12 months ended Dec. 31, 2010. The decrease in net losses for the 12 months ended Dec. 31, 2011 was primarily attributable to the increase in revenue and an impairment of goodwill being recorded for the 12 months ended Dec. 31, 2010 compared to no impairment for the 12 months ended Dec. 31, 2011.

John Birbeck, CTI Group's President and CEO, said, "We are very encouraged by the continued improvement in our results. Although we are reporting a loss for the year, we generated a profit for the fourth quarter of 2011 of $162,301, due to an increase in revenues and cost containment measures in the second half 2011. We anticipate that we will be able to continue our revenue growth into the future." The Company's hosted VoIP applications provide Contact Center facilities in the Cloud for service provider and enterprise based hosted Contact Centers, creating revenue opportunities for service providers through the delivery of added services. CTI Group's products include emPulse, a real-time web-based communications management and analysis solution, and the SmartRecord, which enables service providers to selectively intercept and record and analyze any communications on behalf of their hosted and managed service customers.

The Proteus suite of products is used by companies, institutions and government agencies and financial institutions, to track communications activity and to control costs associated with operating communications networks. Proteus performs functions of call accounting, cost allocation, client bill-back, analyses of trunk traffic and calling and usage patterns, toll fraud detection, directory services, integrates with SmartRecord as well as with private branch exchanges and control turrets.

The EIM suite of products includes: Analysis Online, 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. 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.

CTI Group is a provider of electronic invoice processing and management, enterprise communications management software and services solutions, and carrier class voice over internet protocol management applications.

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