Flexible packaging manufacturer in the US CTI Industries has reported a 1.2% decline in consolidated net sales of $11,816,000 for the second quarter of 2012 compared to consolidated net sales of $11,965,000 for the same period of 2011.
CTI posted a net loss of $78,000 for the quarter against net income of $13,000 in the same period of 2011.
Consolidated net sales for the first half of 2012 stood at $25,624,000 compared to $24,662,000 for the same period in 2011, an increase of 3.9%, while net income was $311,000 against $310,000 in 2011.
For the quarter, net sales of pouch products declined by 1.5% from $1,707,000 in the second quarter 2011 to $1,682,000 in the second quarter 2012 and for the first half sales were $3,612,000 compared to $3,861,000 in 2011, a decrease of 6.4%.
According to the company, operating expenses increased in both the second quarter 2012 and the first half over the same periods in 2011.