BOCA RATON, Fla., June 12, 2013 /PRNewswire/ -- CTX Virtual
Technologies, Inc. (OTCPink: CTXV) a technology company that
manufactures and distributes mobile telecommunication, virtual
imaging, touch screen and tablet manufacturing along with mobile
data input accessories today announced its results for the year
ending December 31, 2012. Sales
from continuing operations were $119,160,232 and Net income of $13,587,643 or $0.67 per basic share and $0.39 per diluted shares. Excluding a
one-time non-reoccurring charge for the deconsolidation of a
subsidiary net income was $18,690,157
compared to 2011 sales of $39,979,915
and Net income of $1,518,800 or
$.09 basic and $.05 fully diluted.
Clifford Rhee, CEO, stated, "2012
year-end results are the culmination of our concerted efforts to
improve our bottom line and shareholder value. CTX is committed to
continuous improvements in our manufacturing processes and refining
our proprietary intellectual properties. In 2012, we have added
a multitude of new products to our current suite of products
including LTE Smart phones, tablets and virtual sensing touch pads.
We plan to incorporate our virtual keyboard chipsets to key
products enabling the users to have mobile data input
capabilities."
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. In
addition, there can be no assurance that the activities to be
performed under the Statement of Work with the global auto parts
manufacturer mentioned above will prove successful or that a
meaningful transaction with such party will result
therefrom.
For more information: Contact Ed
Carter at ed.carter@ctxtechnologies.com or 702-561-1790
SOURCE CTX Virtual Technologies, Inc.
