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Competitive Tech Reports Third Quarter 2013 Results
Date:11/20/2013

d September 30, 2013, increased 11% or 1.683,206 to 16,867,971 as compared with 15,184,765 for the comparable period of 2012.

Nine Months Ended September 30, 2013Revenue from the sale and shipment of Devices in the nine months ended September 30, 2013 decreased 39% or $277,000 to $426,000 as compared with $703,000 in the similar period of 2012.

Total expenses in the nine months ended September 30, 2013 decreased 15% or $437,000 to $2,415,000 as compared with $2,852,000 in the nine months ended September 30, 2012.

Selling expensesin nine months ended September 30, 2013 decreased 59% or $180,000 to $127,000 compared with $307,000 in the similar period ended September 30, 2012.Personnel and consulting expenses in the nine months ended September 30, 2013 decreased 24% or $272,000 to $839,000 as compared with $1,111,000 in the similar period of 2012.General and administrative expenses in the nine months ended September 30, 2013, decreased 8% or $105,000 to $1,264,000 from $1,369,000 in the similar period of 2012.Interest expense in the nine months ended September 30, 2013 increased 251% or $103,000 to $144,000 as compared with $41,000 in the similar period of 2012. This increase is due to an increase in the use of debt financing.

Unrealized loss on derivative instruments in nine months ended September 30, 2013 was $41,000 as compared with the $24,000 loss recorded in the similar period of 2012.Net loss for the nine months ended September 30, 2013 decreased 12% or $273,000 to $2,061,000 or $0.13 per basic and diluted share as compared with a net loss of $2,334,000 or $0.16 per basic and diluted share for the nine months ended September 30, 2012.

Basic and diluted weighted average number of common shares outstanding, for nine months ended September 30, 2013, increased 11% or 1,274,769 to 16,205,578 as compared with 14930,809 for the comparable period of 2012.

Cash-on-hand for the nine months ended September 3
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SOURCE Competitive Technologies, Inc.
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