NIVS IntelliMedia Technology Group Inc. (NIV) Announces Full Year and Fourth Quarter 2009 Results

In the company’s news yesterday,

NIVS IntelliMedia Technology Group Inc. announced strong financial numbers. Net sales for the three months ended December 31, 2009 were $62.7 million compared to $42.6 million in the same period last year, an increase of 47.2 per cent. Net sales for the full year of 2009 were $185.2 million, an increase of $41.6 million or 29 percent from 2008.

Income from operations during the fourth quarter of 2009 was $12.5 million, an increase of $8.6 million or 220.5 percent from the $3.9 million in the same period last year. For the year ended December 31, 2009, NIVS reported income from operations of $28.5 million, up from $18.5 million in 2008.

During the fourth quarter of 2009, the company reported net income of $11 million or $0.28 per diluted share. This compares to $1.9 million or $0.04 per diluted share last year. For the year ended December 31, 2009, NIVS reported net income of $23.5 million or $0.59 per diluted share, an increase of $10.5 million or 80.8 per cent from $13 million or $0.41 per diluted share in 2008.

NIVS Intellimedia attributed its strong performance to the increased demand for and sales of the company’s intelligent audio and video products. This increased demand is a result of its market expansion efforts. For the remainder of 2010, NIVS intends to continue its strong marketing and new product launch momentum. The company believes its integrated strengths should allow it to expand market share within its core market and help to capture opportunities in new markets as it moves towards its goal of becoming China’s preeminent integrated consumer electronics company.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.