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12-05-2008, 07:39 PM
بعد اعلانه اليوم السهم يبشر بالخير
CTI Industries Corporation Reports First Quarter 2008 Financial Results
Monday May 12, 12:11 pm ET
BARRINGTON, IL--(MARKET WIRE)--May 12, 2008 -- CTI Industries Corporation (NasdaqCM:CTIB (http://finance.yahoo.com/q?s=ctib) - News (http://finance.yahoo.com/q/h?s=ctib)), a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, today announced its results of operations for the first quarter of 2008.
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Consolidated net sales for the first quarter of 2008 were $10,735,000 compared to consolidated net sales of $8,279,000 for the first quarter of 2007, representing an increase of 29.7%. The Company earned net income of $279,000 or $0.10 per share (basic and diluted) for the first quarter of 2008 compared to a net loss of $(52,000) or $(0.02) per share (basic and diluted) for the first quarter of 2007.
Key Factors and Trends
The revenue increase in the first quarter was led by flexible packaging and pouches, which more than tripled from revenues of $665,000 in the first quarter of 2007 to $2,447,000 in the first quarter of 2008. These increases were the result of sales to a new customer and of increased sales to an existing customer.
Novelty product revenues were up 10.6%, from $5,515,000 in the first quarter of 2007 to $6,101,000 in the first quarter of 2008. Sales of laminated films also showed a modest increase from $1,826,000 in the first quarter of 2007 to $1,943,000 in the first quarter of 2008.
Gross profit increased from $1,903,000 in the first quarter of 2007 to $2,332,000 in the first quarter of 2008. Gross margins rates were down slightly from 23% in 2007 to 21.7% in the first quarter of 2008.
General, selling and administrative expenses were down slightly in the first quarter, compared to the first quarter of 2007, by about $17,000. As a percentage of sales, general, selling and administrative expenses were considerably lower, representing 15.8% of net sales, compared to 20.6% of net sales in the first quarter of 2007.
Statements made in this release that are not historical facts are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These "forward-looking" statements may include, but are not limited to, statements containing words such as "may," "should," "could," "would," "expect," "plan," "goal," "anticipate," "believe," "estimate," "predict," "potential," "continue," or similar expressions. Factors that could cause results to differ are identified in the public filings of the Company with the Securities and Exchange Commission. More information on factors that could affect CTI's business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
CTI Industries Corporation and SubsidiariesCondensed Consolidated Balance Sheet March 31, December 31, 2008 2007 ------------ ------------ Assets (Unaudited)Current Assets: Cash and cash equivalents $ 691,694 $ 483,112 Accounts receivable, net 6,937,897 5,950,551 Inventories, net 9,631,448 9,700,618 Other current assets 1,802,061 1,666,420 ------------ ------------Total current assets 19,063,100 17,800,701Property, plant and equipment, net 10,272,686 10,096,155Other assets 1,288,264 1,427,279 ------------ ------------Total Assets $ 30,624,050 $ 29,324,135 ============ ============ Liabilities & Stockholders' EquityTotal current liabilities $ 16,703,059 $ 16,483,109Long term debt, less current maturities 5,274,461 5,167,039Other liabilities 1,082,012 1,070,151Minority interest 12,822 12,534Stockholders' equity 7,551,696 6,591,302 ------------ ------------Total Liabilities & Stockholders' Equity $ 30,624,050 $ 29,324,135 ============ ============Consolidated Statements of Operations Three Months Ended March 31 2008 2007 ------------- ------------ (Unaudited) (Unaudited)Net sales $ 10,734,701 $ 8,278,874Cost of sales 8,403,022 6,376,187 ------------ ------------Gross profit 2,331,679 1,902,687Operating expenses 1,691,974 1,708,928 ------------ ------------Income from operations 639,705 193,759Other income (expense): Net Interest expense (270,261) (334,584) Other 30,322 52,172 ------------ ------------Income (loss) before income taxes and minority interest 399,766 (88,653)Income tax expense (benefit) 120,657 (36,407) ------------ ------------Income (loss) income before minority interest 279,109 (52,246)Minority interest (loss) of subsidiary 288 (34) ------------ ------------Net income (loss) $ 278,821 $ (52,212) ============ ============Basic income (loss) per common and common equivalent shares $ 0.10 $ (0.02) ============ ============Diluted income (loss) per common and common equivalent shares $ 0.10 $ (0.02) ============ ============Weighted average number of shares and equivalent shares of common stock outstanding: Basic 2,662,267 2,156,783 ============ ============ Diluted 2,797,374 2,156,783 ============ ============
على المدى المتوسط 6 $
على المدى البعيد بعطيه من 8 - 10
السعر الان 5 $
بالتوفيق
CTI Industries Corporation Reports First Quarter 2008 Financial Results
Monday May 12, 12:11 pm ET
BARRINGTON, IL--(MARKET WIRE)--May 12, 2008 -- CTI Industries Corporation (NasdaqCM:CTIB (http://finance.yahoo.com/q?s=ctib) - News (http://finance.yahoo.com/q/h?s=ctib)), a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, today announced its results of operations for the first quarter of 2008.
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Consolidated net sales for the first quarter of 2008 were $10,735,000 compared to consolidated net sales of $8,279,000 for the first quarter of 2007, representing an increase of 29.7%. The Company earned net income of $279,000 or $0.10 per share (basic and diluted) for the first quarter of 2008 compared to a net loss of $(52,000) or $(0.02) per share (basic and diluted) for the first quarter of 2007.
Key Factors and Trends
The revenue increase in the first quarter was led by flexible packaging and pouches, which more than tripled from revenues of $665,000 in the first quarter of 2007 to $2,447,000 in the first quarter of 2008. These increases were the result of sales to a new customer and of increased sales to an existing customer.
Novelty product revenues were up 10.6%, from $5,515,000 in the first quarter of 2007 to $6,101,000 in the first quarter of 2008. Sales of laminated films also showed a modest increase from $1,826,000 in the first quarter of 2007 to $1,943,000 in the first quarter of 2008.
Gross profit increased from $1,903,000 in the first quarter of 2007 to $2,332,000 in the first quarter of 2008. Gross margins rates were down slightly from 23% in 2007 to 21.7% in the first quarter of 2008.
General, selling and administrative expenses were down slightly in the first quarter, compared to the first quarter of 2007, by about $17,000. As a percentage of sales, general, selling and administrative expenses were considerably lower, representing 15.8% of net sales, compared to 20.6% of net sales in the first quarter of 2007.
Statements made in this release that are not historical facts are "forward-looking" statements (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These "forward-looking" statements may include, but are not limited to, statements containing words such as "may," "should," "could," "would," "expect," "plan," "goal," "anticipate," "believe," "estimate," "predict," "potential," "continue," or similar expressions. Factors that could cause results to differ are identified in the public filings of the Company with the Securities and Exchange Commission. More information on factors that could affect CTI's business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
CTI Industries Corporation and SubsidiariesCondensed Consolidated Balance Sheet March 31, December 31, 2008 2007 ------------ ------------ Assets (Unaudited)Current Assets: Cash and cash equivalents $ 691,694 $ 483,112 Accounts receivable, net 6,937,897 5,950,551 Inventories, net 9,631,448 9,700,618 Other current assets 1,802,061 1,666,420 ------------ ------------Total current assets 19,063,100 17,800,701Property, plant and equipment, net 10,272,686 10,096,155Other assets 1,288,264 1,427,279 ------------ ------------Total Assets $ 30,624,050 $ 29,324,135 ============ ============ Liabilities & Stockholders' EquityTotal current liabilities $ 16,703,059 $ 16,483,109Long term debt, less current maturities 5,274,461 5,167,039Other liabilities 1,082,012 1,070,151Minority interest 12,822 12,534Stockholders' equity 7,551,696 6,591,302 ------------ ------------Total Liabilities & Stockholders' Equity $ 30,624,050 $ 29,324,135 ============ ============Consolidated Statements of Operations Three Months Ended March 31 2008 2007 ------------- ------------ (Unaudited) (Unaudited)Net sales $ 10,734,701 $ 8,278,874Cost of sales 8,403,022 6,376,187 ------------ ------------Gross profit 2,331,679 1,902,687Operating expenses 1,691,974 1,708,928 ------------ ------------Income from operations 639,705 193,759Other income (expense): Net Interest expense (270,261) (334,584) Other 30,322 52,172 ------------ ------------Income (loss) before income taxes and minority interest 399,766 (88,653)Income tax expense (benefit) 120,657 (36,407) ------------ ------------Income (loss) income before minority interest 279,109 (52,246)Minority interest (loss) of subsidiary 288 (34) ------------ ------------Net income (loss) $ 278,821 $ (52,212) ============ ============Basic income (loss) per common and common equivalent shares $ 0.10 $ (0.02) ============ ============Diluted income (loss) per common and common equivalent shares $ 0.10 $ (0.02) ============ ============Weighted average number of shares and equivalent shares of common stock outstanding: Basic 2,662,267 2,156,783 ============ ============ Diluted 2,797,374 2,156,783 ============ ============
على المدى المتوسط 6 $
على المدى البعيد بعطيه من 8 - 10
السعر الان 5 $
بالتوفيق