CTX Virtual Technologies, Inc. reported earnings results for the first quarter ended March 31, 2013. The company reported net sales of $48,928,268 compared to net sales for the same period of $936,845. On a pro forma basis, if the new operating companies acquisitions had occurred prior to the beginning of the period, the net sales for the same period 2012 would have been $29,921,707.

Income from operations of $4,253,795 as compared to a loss from operations of $645,113 for the same period. Net income was $3,165,866 or $0.12 per share on a fully diluted basis for the quarter ended March 31, 2013 as compared to a net loss of $14,461,414 or $0.71 per share after the accrual for change in fair value of warrant liabilities and deconsolidation of a subsidiary for the same period in 2012. The increase in revenue and income comparing the three months ended March 31, 2013 to 2012 was driven by the acquisition of the three new variable interest entities.