CTI files for initial public offering

PET developer CTI may soon go public. The privately held firm based in Knoxville, TN, has filed with the Securities and Exchange Commission to issue an IPO. The company hopes to raise about $230 million, according to Wall Street Research Net. The lead underwriter will be CS First Boston. CTI had annual revenues of $188.9 million and net income of $6.4 million in fiscal 2001, which ended Sept. 30. The company employs 620 full- and part-time staff, according to WSRN.