SOURCE: CTI Group (Holdings) Inc.

November 12, 2010 16:48 ET

CTI Group Reports Third Quarter 2010 Results

INDIANAPOLIS, IN--(Marketwire - November 12, 2010) - 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 for the three and nine months ended September 30, 2010 of $3,346,509 and $10,864,598, respectively, compared to revenues for the three and nine months ended September 30, 2009 of $3,571,487 and $11,660,097, respectfully. The decrease in revenues was primarily associated with the decline in EIM revenues. The Company reported a net loss for the three and nine months ended September 30, 2010 of $(728,388), or $(0.03) per share and $(1,399,038), or $(0.05) per share, respectively, as compared to a net loss for the three and nine months ended September 30, 2009 of $(337,549), or $(0.01) per share and $(1,528,238), or $(0.05) per share, respectfully. The improvement in net loss for the nine months ended September 30, 2010 as compared to the prior year was primarily associated with decreased patent enforcement costs. The increase in net loss for the three months ended September 30, 2010 as compared to the prior year is primarily associated with decreased revenues and decreased capitalized quarterly development costs.

Commenting on the results, John Birbeck, CTI Group's President and CEO, stated, "Despite disappointing results, we have deployed 14 new VoIP solutions and 4 new EIM solutions to Telcos in 2010 and we are encouraged by these sales opportunities as our new Telco customers ramp up deployments to their end-users. We remain optimistic that we will be successful in winning these and several new opportunities to better position us to return to growth in 2011."

The Company's hosted VoIP 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®, which enables service providers to record calls and provide analytics in a SaaS (Software as a Service) environment for their hosted and managed service customers. SmartRecord® integrates with Broadsoft, Cisco and Avaya systems to enable recording across the complete spectrum of unified communications. Specifically engineered to seamlessly integrate with the customer's evolving online eBusiness strategy, these business applications provide enterprise customers and service providers with essential workflow and compliance systems.

The Proteus® suite of products is 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 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 other private branch exchange peripheral products.

The EIM suite of products includes: Analysis 7, for complete on-line customer care of mobile, fixed line and data services and particularly where multi-national and multi-service business applications are involved; 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 and management, enterprise communications management software and services solutions, and carrier class voice over internet protocol (VoIP) management applications. CTI Group's SmartBill®, SmartRecord® and Proteus® product suites offer a full array of solutions for traffic analysis, post-billing call analysis, customer care and call recording. 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 CTI Group or its management or Board of Directors; (c) statements of future economic performance; (d) statements of assumptions underlying other statements and statements about CTI Group and its business relating to the future; and (e) any statements using the words "could," "should," "anticipate," "expect," "may," "project," "intend," "will," "believe" or similar expressions. CTI Group's ability to predict projected results or the effect of events on CTI Group'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. These factors include, but are not limited to: effects of current economic crisis, ability to attract and retain customers to purchase its products, ability to develop or launch new software products, technological advances by third parties and competition, ability to protect the Company's patented technology, ability to obtain settlements in connection with its patent enforcement activities and risks described in CTI Group's annual report on Form 10-K for the year ended December 31, 2009. Readers are referred to documents filed by CTI Group with the U.S. Securities and Exchange Commission, including the Form 10-Q for its most recent quarter ended September 30, 2010.

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