Company expects momentum to build for future holidays
LAKE BARRINGTON, IL / ACCESSWIRE / February 18, 2022 / Yunhong CTI Ltd. (NASDAQ:CTIB) ("Yunhong CTI" or the "Company"), a leading manufacturer of custom film products, foil balloons and novelty balloons, and flexible packaging products, announced strong 2022 Valentine's Day sales data with a major retailer.
The Company's Candy Blossom gift items (typically candy with ribbon and a balloon in convenient, ready for gifting arrangement) sold through at an average of 96% this year, compared to an already strong 93% in the prior year. Feedback included many stores completely selling out of their inventories by the end of the day on February 14th. In addition, stick balloon sales were also strong, with 84% sell through this year vs. 79% in the prior year.
"Our strong sell through last year helped generate increased order flow of 27% for this year," said Jana M. Schwan, Chief Operating Officer of Yunhong CTI. "To then outperform those numbers this year is very satisfying to our organization, particularly our creative department in generating highly desirable designs. And I would be remiss not to mention our operations group in successfully addressing the material availability and logistical issues that businesses are forced to deal with today."
"This is the strong business that we rallied around," said Frank Cesario, Chief Executive Officer of Yunhong CTI. "With the restructuring of the business largely complete, along with our previously announced new credit facility, we are in much better position to focus on our core business and pursue growth opportunities."
The Company's preliminary sales data included herein is based on customer reporting. Accordingly, the preliminary sales data included herein may change. The preliminary sales data presented in this press release have been prepared by, and are the responsibility of, our management. The preliminary sales data has not been compiled or examined by our independent auditors nor have our independent auditors performed any procedures with respect to this data or expressed any opinion or any form of assurance on such data. In addition, the preliminary sales data is not necessarily indicative of the results to be achieved for the period ending March 31, 2022 or for any future period. See "Cautionary Statement Regarding Forward-Looking Statements - Safe Harbor."
About Yunhong CTI Ltd.
Yunhong CTI is one of the leading manufacturers and marketers of foil balloons and produces laminated and printed films for commercial uses. Yunhong CTI also distributes Candy Blossoms and other gift items and markets its products throughout the United States and in several other countries. For more information about our business, visit our corporate website at www.ctiindustries.com.
Cautionary Statement Regarding Forward-Looking Statements - Safe Harbor Statements made in this press release that are not historical facts are "forward-looking" statements (within the meaning of Section 21E of the Securities Exchange Act of 1934) 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. We have based these forward-looking statements on our current expectations and projections about future results. Although we believe that our opinions and expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements, and our actual results may differ substantially from statements made herein. Any failure to achieve or exceed goals or projections would have a negative impact on our financial condition. More information on factors that could affect Yunhong 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.
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SOURCE: Yunhong CTI Ltd.
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