CTM Media Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended January 31, 2012. For the quarter, the company reported revenue of $7,534,000 against $7,677,000 for the same period a year ago. Income from operations was $61,000 against loss from operations of $32,000 for the same period a year ago. Income from operations before income taxes was $73,000 against loss from operations before income taxes of $12,000 for the same period a year ago. Net loss attributable to the company was $68,000 or $0.16 basic and diluted per share against net loss attributable to company of $144,000 or $0.02 basic and diluted per share for the same period a year ago. For the six months, the company reported revenue of $16,050,000 against $16,326,000 for the same period a year ago. Income from operations was $1,005,000 against $825,000 for the same period a year ago. Income from operations before income taxes was $999,000 against $853,000 for the same period a year ago. Net income attributable to the company was $465,000 or $1.12 basic and diluted per share against $566,000 or $0.07 basic and diluted per share for the same period a year ago. Net cash provided by operating activities was $1,139,000 against $1,531,000 for the same period a year ago. Capital expenditures were $431,000 against $103,000 for the same period a year ago. Cash flow from operations varies from quarter to quarter and from year to year, depending on operating results and the timing of operating cash receipts and payments, specifically trade accounts receivable and trade accounts payable. The decrease in revenues during the three and six months ended January 31, 2012 was primarily due to decreases in distribution revenues in the New York and Canadian markets, which were partially offset by an increase in digital revenues. The company currently anticipates that total capital expenditures for all of its divisions in fiscal 2012 will be approximately $1,300,000.