CTI Industries Corp (CTIB) Reports Q1 EPS of $0.02

CTI Industries Corp (NASDAQ: CTIB) reported Q1 EPS of $0.02, versus $0.00 reported last year. Revenue for the quarter came in at $15.36 million, versus $15.21 million reported last year.

• Sales of foil balloons increased by 10.9% in the quarter from $8,014,000 in the first quarter of 2016 to $8,891,000 in the first quarter of 2017. Sales to customers other than our largest balloon customer increased by almost 55% in the quarter. These increased sales included new customers, as well as increased sales to existing significant customers, in the United States, Mexico, the United Kingdom and Europe.
• Revenues from the sale of latex balloons reversed the declining trend from last year, increasing to $2,105,000 in the quarter compared to $2,044,000 in the first quarter of 2016. This improvement resulted from increased production due to our new balloon production machine and some stabilization of the Mexican peso.
• Sales in our other lines of products increased to $1,818,000 for the quarter and now represent 12% of our total revenue. These other lines include our home organizing products, distribution of party goods in Mexico and "Candyloons".

For earnings history and earnings-related data on CTI Industries Corp (CTIB) click here.

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