[By NBC-1TV H. J Yook]Competitive Technologies, Inc. (OTCQX:CTTC) today announced the financial results for the first quarter ended March 31, 2011. CTTC produced a marginal profit of $29,000 compared to a loss of $739,000 for the prior year quarter. This was the first quarterly profit the Company has posted since the quarter ended July 31, 2005.

The Company reported sales of $1.9 million with a gross profit of $1.0 million. The comparative period sales were $0.5 million with a gross profit of $0.4 million. Expenses for the current quarter were $1.0 million including increased legal expenses associated with the arbitration case involving the previous CEO who is challenging his termination for cause. The expenses for the prior period were $1.2 million.

“We are receiving an increased number inquiries from doctors interested in the Calmare® device, both in the US and internationally,” said Aris Despo, CTTC's Executive Vice President. “The interest is an outgrowth of our expanded national and international product marketing program.”

“We continue to grow the revenue from Calmare® pain therapy device sales and control costs which we believe will produce profits throughout the year,” said Johnnie D. Johnson, CEO. “The number of Calmare® units sold in the March 31, 2011 quarter was 63 to international groups and 9 devices sold in the U.S. market, compared to 41 international sales and 2 U.S. sales for the prior year period. I compliment the entire CTTC team for their dedication and commitment. Their strong performance has been instrumental in moving this company forward.”