Business News

CTI Industries Corporation Announces Share Repurchase Program

Tuesday 02. June 2009 - CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of flexible packaging and storage products, laminated films and novelty balloons, today announced that the Board of Directors of the company has approved a program under which the company intends to repurchase, under present market and business conditions, up to 200,000 shares of common stock of the company.

The number of shares to be repurchased at any time and the timing of the purchases will be at the discretion of the company’s management and will be influenced by factors including the market price of the common stock of the company and results of operations. In announcing the anticipated purchases, Howard W. Schwan, President of the company, stated, “Current market conditions have made repurchase by CTI of its common stock an attractive use of available funds at this time.”
Statements made in this release that are not historical facts are “forward-looking” statement (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties and are subject to change at any time. These “forward-looking” statements may include, but are not limited to, statements containing words such as “may,” “should,” “could,” “would,” “expect,” “plan,” “goal,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or similar expressions. Factors that could cause results to differ are identified in the public filings of the Company with the Securities and Exchange Commission. More information on factors that could affect CTI’s business and financial results are included in its public filings made with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.