CTI Industries Corporation Reports First Quarter 2017 Results
Yunhong CTI Ltd. (CTIB)
US:NASDAQ Investor Relations:
ctiindustries.com/investor-relations
Company Research
Source: PR Newswire
LAKE BARRINGTON, Ill, May 15, 2017 /PRNewswire/ -- CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of foil and latex balloons, vacuum storage products, laminated films and home organizing products, today announced its results of operations for the first quarter of 2017. For the first quarter of 2017, net sales increased to $15,360,000 compared to net sales of $15,205,000 for the first quarter of 2016. Significant items relating to sales include: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, in
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