CTI reports quarterly loss on lower revenue

Indianapolis-based CTI Group Holdings Inc. lost $337,549 in the third quarter on significantly declining revenue.

The company, which focuses on software for enterprise networks and telecommunication services providers, announced its quarterly earnings Friday.

CTI’s loss translated to a penny per share compared with a profit of $1.5 million, or 5 cents per share, in the third quarter of 2008.

Company revenue fell 121 percent in the latest quarter, to $3.6 million.

CTI attributed the decrease in revenue to a decline in the exchange rates of the United Kingdom pound and lack of patent-enforcement revenue this year.

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