LAKE BARRINGTON, IL / ACCESSWIRE / November 18, 2020 / Yunhong CTI Ltd. (NASDAQ:CTIB) ('Yunhong CTI' or the 'Company'), a leading manufacturer of custom film products, foil and latex novelty balloons, and flexible packaging products, announced that orders for its Candy Blossom products for Valentine's Day 2021have increased approximately 40% year over year.
'Our strong year over year growth in Candy Blossom orders reflects the underlying quality and reliability of our product offering, combined with our ability to quickly add production capacity to service this increased demand,' said Jennifer Connerty, Chief Financial Officer of Yunhong CTI. 'Valentine's Day is our single strongest seasonal holiday and typically sets the financial tone for the fiscal year, so we are excited to have such a strong finish for 2020 and an encouraging start for 2021.'
'We are very pleased to see strong orders in the pipeline for this upcoming spring and expect to see increased sales for Mother's Day, Father's Day and Graduation in 2021,' said Jana M. Schwan, Chief Operating Officer of Yunhong CTI. 'Despite the economic uncertainties resulting from the pandemic, we remain steadfast in cementing our position as a supplier of choice for national retailers for many of our product categories. We see increased opportunity in our growing target markets and our team at Yunhong CTI is working relentlessly to deliver growth and to create value for our shareholders.'
About Yunhong CTI Ltd.
Yunhong CTI Ltd. 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.
Forward Looking Statements
Statements made in this 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. We cannot anticipate the duration of increased tariffs between the United States and other countries, particularly China. We do not know whether we will be successful in passing such additional costs through to customers. The COVID-19 pandemic has had a negative impact on our operations, and we do not yet know the depth or duration of that disruption. Our future plans anticipate the successful completion of the financing described above. Any failure to do so would have a negative impact on our financial condition. 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.
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SOURCE: Yunhong CTI Ltd.
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