Coil Tubing Technology, Inc. reported earnings results for the first quarter ended March 31, 2014. Revenues for the three months ended March 31, 2014 were approximately $1,267,000 compared to $1,804,000 during the three months ended March 31, 2013, a decrease of $537,000. The had a net loss of $473,000 for the three months ended March 31, 2014, compared to net loss of $66,000 for the three months ended March 31, 2013, an increase in net loss of $407,000 or 617% from the prior period.

The increase in net loss was attributable to a decrease in total revenue and an increase in certain operating expenses, for the three months ended March 31, 2014, compared to the three months ended March 31, 2013. Primary and fully-diluted net loss per share for the three months ended March 31, 2014 and 2013 was $0.03 and $0.00, respectively.