SOURCE: CTX Virtual Technologies, Inc.

October 09, 2013 06:00 ET

CTX Virtual Technologies, Inc. Reports a 240% Revenue Increase for the 6 Months Ending June 30, 2013

BOCA RATON, FL--(Marketwired - Oct 9, 2013) -  CTX Virtual Technologies, Inc. (OTC Pink: CTXV) a technology company that manufactures and distributes mobile communication, electronic devices, virtual imaging, touch screen, tablets and mobile data input accessories today released its results for the six months ending June 30, 2013. Revenues from continuing operations increased 240% to $91,321,434 compared with $26,730,780 for the same period of 2012. Gross profit for the same period increased 149% to $9,940,993 with Income from operations exceeding $5.7 million. Excluding non-cash items EBITDA for the period was $7.7 million compared to $2.9 million for the same period 2012. 

Clifford Rhee, CEO, stated "We are continuously striving to improve our bottom line and shareholder value. In the 2nd quarter 2013, we successfully launched our VK200 KEYFOB™ with our retail channel partners and are making a concerted effort to complete other proprietary product developments which will add to the company's rapid growth trend."

Forward-Looking Statements -- The statements made in this release may contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to the results of our 2012 audit, our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights. 

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