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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001169232-03-004032.txt : 20030528
<SEC-HEADER>0001169232-03-004032.hdr.sgml : 20030528
<ACCEPTANCE-DATETIME>20030528141109
ACCESSION NUMBER:		0001169232-03-004032
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030527
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CTI INDUSTRIES CORP
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED RUBBER PRODUCTS, NEC [3060]
		IRS NUMBER:				362848943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23115
		FILM NUMBER:		03721339

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d55967_8-k.txt
<DESCRIPTION>CURRENT REPORT
<TEXT>

                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                         -------------------------------

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

         Date of Report (Date of Earliest Event Reported): May 27, 2003

                           CTI INDUSTRIES CORPORATION
             (Exact Name of Registrant as Specified in its Charter)

Illinois                             0-23115                    36-2848943
(State or Other             (Commission File Number)          (IRS Employer
Jurisdiction                                                Identification No.)
Incorporation)

     22160 North Pepper Road, Barrington, IL                      60010
     (Address of Principal Executive Offices)                   (Zip Code)

                                 (847) 382-1000
              (Registrant's Telephone Number, including Area Code)

<PAGE>

Item No. 7 - Exhibit

      (c)   The following exhibit is attached hereto:

      Exhibit No.       Exhibit

      99                Press Release dated May 27, 2003 captioned: "CTI
                        Industries Corporation Reports Financial Results for the
                        First Quarter of 2003"

Item No. 12 - Results of Operations and Financial Condition

      On May 27, 2003, CTI Industries Corporation issued a press release
reporting earnings and other financial results for its first quarter ended March
31, 2003. A copy of the Press Release is attached as Exhibit 99.


                                       2
<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                               CTI Industries Corporation
                                                        (Registrant)


Date:   May 28, 2003                By:    /s/ Stephen M. Merrick
                                           ----------------------------------
                                           Stephen M. Merrick, Executive Vice
                                           President and Secretary


                                       3

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>d55967_ex99.txt
<DESCRIPTION>PRESS RELEASE DATED MAY 27, 2003
<TEXT>

                                   EXHIBIT 99

      NEWS RELEASE

                        FOR FURTHER INFORMATION CONTACT:

Stephen M. Merrick                  Tim Dilsaver
Executive Vice President            Investor Relations
(847) 382-1000                      (847) 382-1000

                    CTI Industries Reports Financial Results
                          For The First Quarter of 2003

FOR IMMEDIATE RELEASE
Tuesday, May 27, 2003

BARRINGTON, IL, May 27,2003 -- CTI Industries Corporation (NASDAQ Small Cap -
CTIB), a manufacturer and marketer of metalized balloons, latex balloons,
novelty items and printed and laminated films, today released financial results
for its first quarter ending March 31, 2003. For the quarter, net sales were
$10,162,000 an increase of 4.4% over 2002 first quarter revenues of $9,738,000.
The Company realized incurred a net loss of $690,000 for the quarter, compared
to net income for the first quarter of 2002 of $370,000.

The loss per share for the quarter was $0.36, compared to income per share of
$0.33 ($0.30 fully diluted) for the first quarter of 2002.

"We experienced modest gains in sales during the first quarter. However, our
results for the quarter were affected by several factors including (i) reduced
margins in sales of foil balloons, including sales to a significant customer and
(ii) losses incurred in our Mexico operation arising from the move of operations
to a new facility, reduced production and reduced sales during the quarter,"
said Stephen Merrick, Executive Vice President and Chief Financial Officer.

On May 22, 2003, the Company received a notice from the Nasdaq Stock Market that
it is not compliant with Nasdaq Marketplace Rules by reason of the failure of
the Company to file its Form 10-Q on a timely basis (Rule 4310(c)(14)) and by
reason of the failure of the Company to pay certain fees due to Nasdaq (Rule
4310(c)(13)). On May 27, 2003, the Company did file its Report on Form 10-Q with
the Securities and Exchange Commission and has made payment of all fees due to
Nasdaq.

CTI Industries is one of the leading manufacturers and marketers of metalized
and latex balloons and produces laminated and printed films for commercial uses.
CTI markets its products throughout the United States and in 30 other countries.

This press release may contain forward-looking statements within the meaning of
Section 17A of the Securities Act and Section 21E of the Securities Exchange
Act. Actual results could differ materially from those projected in the
forward-looking statements, which involve a number of risks and uncertainties,
including (i) the risks of generating and maintaining sales in a highly
competitive market, (ii) the ability of the Company to enter into or maintain
contracts or


                                       1
<PAGE>

relationships with customers, distributors, licensors and suppliers, (iii)
manufacturing risks, as well as other risks and uncertainties reported by the
Company in its SEC filings, and such statements should also be considered in
conjunction with cautionary statements contained in the Company's most recent
filing with the Securities and Exchange Commission on Form 10-K.

                         - FINANCIAL HIGHLIGHTS FOLLOW -


                                       2
<PAGE>

CTI Industries Corporation and Subsidiaries
Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                    March 31, 2003     December 31, 2002
                                                                    --------------     -----------------
                                                                     (unaudited)
<S>                                                                   <C>                   <C>
Assets

Current Assets:
  Cash and cash equivalents                                           $    718,198          $    160,493
  Accounts receivable, net                                               6,216,617             5,384,839
  Inventories                                                           10,350,737            10,033,593
  Other current assets                                                   1,220,631               558,775
                                                                      ------------          ------------

Total current assets                                                    18,506,183            16,137,700
Property and equipment, net                                             11,629,560            11,715,013
Other assets                                                             1,666,445             2,419,145
                                                                      ------------          ------------

Total Assets                                                          $ 31,802,188          $ 30,271,858
                                                                      ============          ============

Liabilities & Stockholders' Equity

Total current liabilities                                             $ 22,093,738          $ 19,045,151
Long term debt, less current maturities                                  3,784,191             5,016,109
Other liabilities                                                          670,807               710,257
Minority interest                                                           23,447                25,865
Stockholders' equity                                                     5,230,005             5,473,676
                                                                      ------------          ------------

Total Liabilities & Stockholders' Equity                              $ 31,802,188          $ 30,271,858
                                                                      ============          ============

<CAPTION>

Consolidated Statements of Operations
                                                                            Quarter Ended March 31,
                                                                           2003                  2002
                                                                       (unaudited)           (unaudited)
                                                                      ------------          ------------
<S>                                                                   <C>                   <C>

Net sales                                                             $ 10,162,495          $  9,738,097
Cost of sales                                                            8,225,442             7,183,845
Gross profit on sales                                                    1,937,053             2,554,252
Operating expenses                                                       2,250,261             1,770,399
                                                                      ------------          ------------

Income from operations                                                    (313,208)              783,853
Other income (expense):

  Interest expense                                                        (201,752)             (179,990)
  Other                                                                   (143,001)               37,568
                                                                      ------------          ------------

Income (loss) before income taxes and minority interest                   (657,961)              641,431
                                                                      ------------          ------------

Income tax expense                                                          34,245               247,293

Income (loss) before minority interest                                    (692,206)              394,138
                                                                      ------------          ------------

Minority interest in (loss) of subsidiary                                   (2,418)              (23,707)

Net income (loss)                                                     $   (689,788)         $    370,431
                                                                      ============          ============


Basic income (loss) per common and common equivalent shares           $      (0.36)         $       0.33

Diluted income (loss) per common and common equivalent shares         $      (0.36)         $       0.30

Weighted average number of shares and equivalent shares
  of common stock outstanding:

    Basic                                                                1,917,772             1,133,431
    Diluted                                                              1,917,772             1,221,351
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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