NIVS IntelliMedia Technology Group Inc. (NIV) Posts Solid Q4 and FY Results, Leveraged by Innovative Products and Position in Chinese Market
NIVS IntelliMedia Technology Group Inc., an integrated consumer electronics company, today posted significant increases for the fourth quarter ended Dec. 31, 2009, driven by increased demand for the company’s intelligent audio and video products and its market expansion efforts. Net sales grew 47.2 percent to $62.7 million compared to $42.6 million for the fourth quarter of 2008. Net sales for the full year ended Dec. 31, 2009, were $185.2 million, a 29 percent increase compared to $143.6 million for the year ended Dec. 31, 2008. Income from operations during the fourth quarter was $12.5 million, a 220.5 percent increase compared…