CTI Industries Posts Earnings, Revenue Growth
Novelty balloon and laminated films maker CTI Industries (CTIB) said on Tuesday that its first-quarter profit exceeded estimates as its commercial films operation produced solid revenue gains.
The company posted first-quarter net income of $377,307, or 31 cents a share, compared with a loss of $133,269, or 11 cents a share, a year ago. Wall Street had been expecting 16 cents, according to Thomson Financial/First Call.
Revenue for the quarter was up 60% to $9.738 million from $6.08 million a year ago. The growth was led by the commercial films division, but the company said sales in its novelty line remained solid as well.
Shares of CTI were recently trading up 45% to $6.60 after closing at $4.55 Tuesday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV