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CHIO merger news after close.
China INSOnline Corp. Entered Into Letter of Intent to Merge With Dingneng Bio-Technology
"POOF" Online Insurance to green energy bio-diesel
Adding a catalyst to the Pincher.
Will stock structure remain the same?
Same NASDAQ deadline in Dec.?
http://ih.advfn.com/p.php?pid=nmona&article=44606629&symbol=CHIO
CHIO maybe worth a watch.
What cha think?
Good move for GY today. Traded out for 12%.
BOOM Chuckaluckalucka!!
5 Stocks Bouncing Back
From Motley Fool
However hard the market slams a stock, there's always the chance it'll come bouncing right back. We'll consult our Motley Fool CAPS community to find shares on the rebound, examining one specific sector of the economy in search of companies with rising CAPS ratings.
Among the 582 stocks listed under consumer goods in the CAPS' screener, we've unearthed more than a few with five-star ratings. Those accolades mean our 150,000 CAPS members are confident that these stocks will beat the market in the months ahead. Let's see what members are saying about the five below:
Company
CAPS Rating Today
(out of 5)
Recent Price
52-Week
Price Change
Est. LT Growth Rate
Diageo (NYSE: DEO)
*****
$65.32
51%
2%
Hasbro (NYSE: HAS)
*****
$36.33
65%
9%
Imperial Sugar (Nasdaq: IPSU)
*****
$15.04
181%
14%
NIVS IntelliMedia Technology Group (NYSE: NIV)
*****
$3.46
0%
10%
Smart Balance (Nasdaq: SMBL)
*****
$5.06
(9%)
13%
Source: Motley Fool CAPS; Yahoo! Finance.
LT = long-term.
As the broader market averages have staged a pretty bold recovery until recently, conglomerates have done even better. The average consumer goods company has tripled in value from the year-ago period, but that includes some that were at, or over, the brink of bankruptcy. That includes auto parts manufacturer Dana Holdings (NYSE: DAN), which has climbed almost 5,000%, and premium bed maker Select Comfort (Nasdaq: SCSS), which has had a similarly spectacular run-up following its auditor filing a "going concern" notice.
So let's take a closer look at why investors think a couple of these companies won't be jumping from the frying pan into the fire from the market's lofty heights.
Some spring in its step
Chinese consumer AV electronics maker NIVS IntelliMedia Technology Group is a good example of the risks and rewards inherent in such overseas investments. Although it was able to score a contract valued at $28 million with China Telecom for two mobile phone products, it also recently announced it needed to restate results for the past three quarters. While that lowered per-share earnings by only $0.02 over the past nine months, it virtually wiped out the company's reported free cash flows for the period.
Recognizing those risks, highly rated CAPS All-Star TSIF believes the potential rewards still lean in its favor, particularly at its lower valuations:
Revenue and profit have been growing steadily quarter over quarter and profit margin at 9% with operating margin at 12% are very respectable for this type of company. Debt is high at $54 Million, but decreasing qtr/qtr and manageable. NIVS also is managing expansion of their factory from existing cash flow. While Chinese companies continuously cycle in and out of favor, I believe the long term outlook on NIVS is positive. I believe, short of a fall of favor again of Chinese stocks, the current entry price is very low risk, but good upside potential
It has a certain glow
Back when commodity prices were blowing through the roof, corn-based ethanol producers were chastised for converting food stocks into fuel and raising the cost of basic necessities for consumers. Sugar-based ethanol was seen as a better alternative, but the risks have come into focus as Brazil -- the world's largest producer of sugar ethanol -- has suffered poor crop harvests as a result of weather-related events, and that's causing sugar prices to soar on global markets.
U.S.-based Imperial Sugar doesn't have the ability to produce ethanol as it's a refiner of raw cane sugar, but its recent earnings were still affected by the broader events. It realized $19 million in gains on its hedging contracts, though that was offset by almost $9 million in higher raw sugar costs. With import quotas limiting the supply here in the U.S., Imperial is looking for the Agriculture department to raise the limits to help offset price increases.
CAPS All-Star TMFPhillyDot sees a recent joint venture announcement to market the natural sugar substitute Stevia as a potential driver of future profits:
Imperial has $66M in cash and a $176M market cap -- about $5.50 cash per share. Recently formed a JV with Malaysian company PureCircle to market and produce patented Stevia, a sugar substitute that is 3 times as sweet but has no calories. Major upside. Also markets honey, agave nectar, organic cane sugar, which should become more popular as people steer away from high fructose corn syrup.
With 89% of the more than 300 CAPS members who have rated Imperial expecting it to outperform the broader market averages, he's not alone. Head over to the Imperial Sugar CAPS page and let us know if this is a sweet deal.
The ball's in your court
There are many factors that go into whether a stock is a buy or sell, so it pays to start your own research on these stocks on Motley Fool CAPS. Read a company's financial reports, scrutinize key data and charts, and examine the comments your fellow investors have made -- all from a stock's CAPS page. Head over to CAPS today and share your thoughts with other investor analysts on whether you think these stocks are ready to bound higher.
http://us.rd.yahoo.com/finance/external/mfool/SIG=12g7v5tu2/*http%3A//www.fool.com/investing/general/2010/03/04/5-stocks-bouncing-back.aspx?source=eptyholnk303100&logvisit=y&npu=y
5:39PM NIV IntelliMedia Tech Grp files to sell $20 mln in common stock in an S-1 filing (NIV) 3.40 -0.06 :
Down to $3.12 in after hours.
Was wondering if SNTA popped on your radar. 2am DD looks good enough to check, after some shut eye. LOL
GY Late Day move up in progress. Hope it sticks
Late day war going on here! $3.30 is 30 day ma.
Chart looks like NIV is fixin to make a point.
NIVS Restates Certain Financial Results from the September 30, 2009 Fiscal Period
HUIZHOU, Guangdong, China, Feb. 23 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc. ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced the restatement of certain financial results, specifically that the Company's selling expense as reported for the three months ended September 30, 2009 were overstated and that an error in the accounting treatment of certain unrecorded liabilities resulted in an understatement of the Company's liabilities and expenses for the three and nine months ended September 30, 2009. As a net result, gross profit, income from operations, net income, net income per share and shareholders' equity were overstated for the periods.
Selling expense for the period was overstated by $618,212 for the three months ended September 30, 2009 and unrecorded liabilities of $870,000 were recognized during for the three and nine months ended September 30, 2009 related to the Company's obligation to contribute to an employee housing fund under PRC ("Peoples Republic of China") law. The Company will be required to make up past contributions and may be subject to penalties if the Company receives notice for payment from PRC housing agencies.
As a net result of the restatements, gross profit for the nine month period ended September 30, 2009, which was originally reported to be $28.1 million, was restated to $27.5 million, a difference of $0.6 million. Income from operations, which was originally reported to be $16.9 million, while in actuality was $16.0 million, a difference of $0.9 million. Net income attributable to NIVS IntelliMedia Technology Group, Inc., which was originally reported to be $13.2 million, was restated to $12.5 million, a difference of $0.7 million. Net income per share on a diluted basis, which was originally reported to be $0.33, was restated to $0.31, a difference of $0.02. Total NIVS IntelliMedia Technology Group, Inc. shareholders' equity as of September 30, 2009, which was originally reported to be $68.6 million, was restated to $67.9 million, a difference of $0.7 million.
In addition to the restatements, the Company reclassified restricted cash of $6.1 million and $2.3 million for the nine months ended September 30, 2009 and 2008, respectively, in its Consolidated Statements of Cash Flows from "Cash flows from operating activities" to "Cash flows from investing activities", resulting in a decrease in cash provided by operating activities by $6.1 million for the nine months ended September 30, 2009 and an decrease in cash used in operating activities by $2.3 million for the nine months ended September 30, 2008.
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to completion and audit of the Company's financial statements for the fourth quarter and year end 2009; the Company's ability to remediate the significant deficiencies and/or material weakness(es) in its internal controls; the Company's ability to effectively integrate the operations and management of acquisition targets; the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.
For more information, please contact:
Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138-299-16919 Email:
Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc.
CONTACT: Company Contact, Jason Wong, Vice President Investor Relations,
+86-138-299-16919, or ; or Investor Contact for United
States & Canada, John Baldissera of BPC Financial Marketing, +1-800-368-1217,
for NIVS
NIVS Announces Preliminary Results of Operations for 2009
HUIZHOU, Guangdong, China, Feb. 23 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc. ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced preliminary results of operations for its fiscal 2009 year end.
Preliminary results from the Company's 2009 fiscal year ended December 31, 2009 include:
-- Estimated revenue of $184 million to $186 million for the year ended December 31, 2009 as compared to $143.6 million for the year ended December 31, 2008.
-- Estimated net income for the year ended December 31, 2009 of $23.5 million to $25.5 million as compared to $13 million for the year ended December 31, 2008 - of note is that net income for 2009 was positively affected by the reversal in 2009 of $2.7 million of bad debt allowance. This reversal in 2009, combined with $2.5 million of bad debt expense recorded in 2008 resulted in $5.2 million of the estimated $10.5 to $12.5 million increase in estimated net income for 2009. The Company believes the reversal of its bad debt allowance was justified due to an improvement in the Chinese economy in late 2009, stable collection of accounts receivable in 2009 and the Company's efforts to collect outstanding old accounts receivables in 2009.
-- General and administrative expense for the year ended December 31, 2009 are estimated to be $1.5 million to $1.7 million as compared to $8.7 million for the year ended December 31, 2008 - of note is that the substantial portion of such decrease relates to the above-referenced $5.2 million decrease in general and administrative expense resulting from the $2.7 million reversal of bad debt allowance in 2009 and the $2.5 million bad debt expense recorded in 2008.
-- Cash and cash equivalents at December 31, 2009 were approximately $6.0 million with a working capital deficit of $4.6 million as compared to $0.5 million of cash and cash equivalents and an $18.6 working capital deficit for the period ended December 31, 2008
"We are encouraged to report strong estimated revenue and net income growth for fiscal 2009. The improvement in our working capital position at year-end as compared to the previous year-end period is also encouraging," commented Mr. Tianfu Li, NIVS' Chairman and Chief Executive Officer.
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to completion and audit of the Company's financial statements for the fourth quarter and year end 2009; the Company's ability to remediate the significant deficiencies and/or material weakness(es) in its internal controls; the Company's ability to effectively integrate the operations and management of acquisition targets; the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov/). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.
For more information, please contact:
Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138-299-16919 Email:
Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc.
CONTACT: Company Contact, Jason Wong, Vice President Investor Relations,
+86-138-299-16919, or ; or Investor Contact for United
States & Canada, John Baldissera of BPC Financial Marketing, +1-800-368-1217,
for NIVS
Back in today. Not gonna let you have all the fun.
Back in today. Ready for good news tomorrow to match up with a chart that's ready.
Back in today for a taste.
In today. Chart looks good for swing.
Still waiting & watching this beating. Hoping this sell off is all market related & not earnings related.
Should come out this week, right?
$2.50 a definate possibility. I'll start getting back in under $3.
NIVS Expands Presence of 3G Duo System Mobile Phones to Hunan Province at Promotional Campaign Sponsored by China Telecom
HUIZHOU, China, Jan. 28 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company has expanded the presence of its 3G Duo System mobile phones to Hunan Province at a promotional campaign sponsored by China Telecom
The event was organized by China Telecom and its Hunan Province e-Surfing subsidiary, focused on the promotion of e-Surfing's new product offerings in Hunan Province. The event's primary purpose was to offer distributors and franchise outlets the opportunity to acquire the 3G products from China Telecom. NIVS' NE16 and NE20 mobile phones, previously purchased by China Telecom, were distributed to China Telecom's Hunan Province subsidiary
The General Manager of China Telecom's End User Management, Mr. Daojie Ma, commented: "NIVS' 3G duo system provides the perfect solution over both CDMA and GSM networks, providing coverage within the different networks available in China and meets our mobile phone market development strategy. We are committed to expanding the 3G mobile phone market in China in conjunction with NIVS."
Mr. Tianfu Li, Chairman and CEO of NIVS, added: "We are grateful to have the opportunity to introduce our innovative and high quality products to various telecommunications service providers and we intend to support other promotional campaigns to ensure that our mobile phone products have a broad distribution throughout China."
It is expected that similar promotional campaigns will be held in other Chinese provinces throughout the first quarter of 2010
About NIVS IntelliMedia Technology Group, Inc
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes' Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's ability to effectively integrate the operations and management of acquisition targets; the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov/ ). All forward- looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements
For more information, please contact:
Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138-299-16919 Email:
Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc
CONTACT: Jason Wong, Vice President Investor Relations, +86-138-299-16919,
; Investors, United States & Canada, BPC Financial
Marketing, John Baldissera, +1-800-368-1217
At the mercy of the market currently IMO. Just depends which camp you choose: correction or another head fake.
I put in the sell order today that I should have done @ 4.00. lock in profits. I'm betting it goes a little lower & I'll get back in.
So far it hasn't filled @ 3.51 so i think there's room to the downside. $3.25 is my bet chartwise.
NIV is ready for when the whistle blows.
Just need buying volume & i figure it popped onto a lot of radars in this last run.
GLTY
NIVS to Offer GestureTek Mobile's Award Winning Software for Mobile Phone Games on the NIVS Operations Platform
HUIZHOU, Guangdong, China, Jan. 22 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company has entered into an agreement with China Potevio Co., Ltd., GestureTek's authorized technology agent in China, for the application of GestureTek's mobile phone technologies on the NIVS operations platform for the benefit of it's mobile phone customers
GestureTek's award-winning Eyemo(TM) software enables touch-free user interfaces on camera-enabled handsets. GestureTek's Momo(TM) engine uses a mobile device's camera to track specific movements and objects within the camera's field of view. The software can be delivered over the air or embedded on a camera-enabled device. Turnkey motion-controlled games and applications are also available on multiple platforms
Mr. Tianfu Li, Chairman and CEO of NIVS, commented, "On behalf of our mobile phone customers we're delighted to be able to offer GestureTek's mobile phone technologies to enhance their experience and interaction with the NIVS brand of mobile phones. We look forward to offering a broad suite of GestureTek's offerings to our customers."
About China Potevio Co., Ltd
China Potevio Co., Ltd. is a China based leading IT equipment manufacturer and service provider. It was born out of China Posts and Telecommunications Industry Corporation, which has a long history in China's telecommunication industry. As a key state-owned enterprise under direct leadership of State- owned Assets Supervision and Administration Commission of the State Council (SASAC), China Potevio's main business covers manufacture and trade business of telecom products, relevant technical research and services. Its industrial scale and strength plays a leading role in many industrial fields, such as communication system, terminal, auxiliary equipment, industrial application and value-added service. China Potevio owns several first-class national certifications and qualifications, including telecom project programming and designing, telecom engineering surveying, project contracting and telecom construction bidding and bid invitation, providing clients with credible products and services
About NIVS IntelliMedia Technology Group, Inc
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, telecommunication, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's ability to effectively integrate the operations and management of acquisition targets; the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov/). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements
For more information, please contact:
Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138-2991-6919 Email:
Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc
CONTACT: Jason Wong, Vice President Investor Relations,
+86-138-2991-6919, ; or Investors, United States & Canada,
John Baldissera of BPC Financial Marketing, +1-800-368-1217
May do it this week!
NIVS Expands Presence in Mobile Phone Product Manufacturing with Acquisition of Huizhou Dongri Digital Co., Ltd.
HUIZHOU, China, Jan. 19 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company executed a definitive acquisition agreement to acquire Huizhou Dongri Digital Co., Ltd., ("Dongri") a mobile phone product manufacturer located in the Huizhou Zhongkai Hi-tech Zone area
The aggregate purchase price to be paid by the Company for Dongri is to be up to $23 million. $13 million will be paid within 30 days after closing, expected to be January 22, 2010, and up to an additional $10 million may be payable at future dates contingent on certain performance metrics of Dongri being met, as described below. With the acquisition of Dongri, the Company's production capacity will be increased to 1 million mobile phones per month, in keeping with the Company's demand for its overall mobile phone products
If Dongri's after-tax income for the first half of 2010, January 1 - June 30, 2010, exceeds $1.91 million, then an additional $3 million will be paid to the former shareholders of Dongri. If Dongri's after-tax income for the first half of 2010 is between $955,000 and $1.91 million, then a pro-rata amount of $3 million shall be payable to the former Dongri shareholders based on the amount that the after-tax income exceeds $955,000 divided by 955,000. If Dongri's after-tax income for the first half of 2010 is less than $955,000 then no additional funds will be paid to the former Dongri shareholders pertaining to the financial performance of Dongri for the period January 1 - June 30, 2010
If Dongri's after-tax income for the third quarter of 2010, July 1 - September 30, 2010, exceeds $1.03 million then $3 million shall be payable to the former Dongri shareholders. If Dongri's after-tax income for the third quarter of 2010 is between $514,000 and $1.03 million then a pro-rata amount of $3 million shall be payable to the former Dongri shareholders, where such pro-rata amount shall be calculated based on the amount that the after-tax income exceeds $514,000 divided by $514,000. If Dongri's after-tax revenue for the third quarter of 2010 is less than $514,000 then no additional funds will be paid to the former Dongri shareholders pertaining to that period
If Dongri's after-tax income for the fourth quarter of 2010, October 1 - December 31, 2010 exceeds $1.18 million then $4 million shall be payable to the former Dongri shareholders. If Dongri's after-tax income for the fourth quarter of 2010 is between $590,000 and $1.18 million then a pro-rata amount of $4 million shall be payable to the former Dongri shareholders, where such pro-rata amount shall be calculated based on the amount that the after-tax income exceeds $590,000 divided by $590,000. If Dongri's after-tax income for the fourth quarter of 2010 is less than $590,000, then no additional funds will be paid to the former Dongri shareholders pertaining to that period
All dollar figures used to calculate any additional payments, if any, owed to the former Dongri shareholders will be calculated in accordance with U.S. GAAP, as determined by the parent corporation, NIVS and confirmed by NIVS' independent auditor
Additional payments owed to Dongri, if any, shall be made no later than the thirtieth day following the completion of NIVS' preparation of its financial statements for the respective period, calculated in accordance with U.S. GAAP and confirmed by NIVS' independent auditor and the filing of the related financial statements with the U.S. Securities and Exchange Commission
In 2008 (the most recent figures available and subject to final confirmation by the Company), Dongri's revenue grew 349.94% to $13.25 million from $2.93 million in 2007. Gross profit in 2008 increased to $1.50 million, compared to $0.35 million in 2007. Gross margins for the 2008 and 2007 period were 11.34% and 11.85%, respectively. The 2008 net income of Dongri grew 445.52% to $1.34 million, compared to $0.25 million in 2007. Total assets of Dongri in 2008 and 2007 were $3.68 million and $6.86 million, respectively. Shareholders' equity in 2008 and 2007 was $3.85 million and $3.05, respectively
Mr. Tianfu Li, Chairman and CEO of NIVS, commented "We are delighted at the opportunity to expand our product manufacturing capability with the acquisition of Dongri. Coupled with our recently announced relationship with China Potevio on the development of our own branded 3G mobile phone for introduction to Chinese consumers, we are looking forward to integrating the creativity of the respective teams for the benefit of the Company's mobile phone offerings."
About Huizhou Dongri Digital
Huizhou Dongri Digital Co., Ltd., was established in October of 2004 as a mobile phone product manufacturer. Their production facility totals 15,000 square meters with fully air-conditioned clean rooms and advanced manufacturing capabilities. The current production capacity allows for the production of 1.5 million mobile phones annually. The factory employs 650 production line personnel and 110 technical and managerial staff. Dongri has strong partnerships with Siemens, Samsung, Sony, Desay, TCL and other local China based mobile phone manufacturers. In addition to the Chinese domestic market, its products are distributed in Europe, India and Southeast Asia
About NIVS IntelliMedia Technology Group, Inc
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes' Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's ability to effectively integrate the operations and management of Dongri; the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov/). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements
For more information, please contact:
Company Contact: Jason Wong Vice President Investor Relations Tel: +86-138 299 16919 Email:
Investor Contact: United States & Canada BPC Financial Marketing John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc
CONTACT: Company Contact: Jason Wong, Vice President Investor Relations,
+86-138 299 16919, ; Investor Contact: United States &
Canada: BPC Financial Marketing, John Baldissera, +1-800-368-1217
NIVS, Kuanda (Xiamen) and China PTAC Communications Services Execute Purchase Agreement for NIVS 3G Mobile Phone Products on Beh
HUIZHOU, China, Jan. 14 /PRNewswire-Asia-FirstCall/ --
NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company, jointly with Kuanda (Xiamen) Communications Co., Ltd, has entered into a purchase agreement with China PTAC Communications Services on behalf of China Telecom for the purchase by China Telecom of the Company's two 3G mobile phone products
The 3G mobile phone products will be available in red, black and silver and will be engraved with the China Telecom logo and operate over a network specifically engineered for the Company's product. The purchase agreement is contingent on delivery of the 3G mobile phones representing the aggregate order by March 31, 2010. The value of the order is $28.8 million; the dollar value of any additional orders further to this relationship depends on the final number of delivered products. It is expected that the 3G mobile phones will be available for purchase at China Telecom Services Centers throughout China
Mr. Tianfu Li, Chairman and CEO of NIVS, commented, "We are excited to receive an order of this magnitude and from such an outstanding company as China Telecom. The order represents the largest in the history of NIVS and our personnel are working diligently to fulfill the order in a timely manner."
About Kuanda (Xiamen) Communications Co., Ltd
Kuanda (Xiamen) Communication Co., Ltd. is a telecommunication solutions provider, with offices in Xiemen, Shenzhen and Beijing. It is a professional product solutions provider, ODM solutions provider, and also a structural, hardware and software developer
About China PTAC Communications Services
China PTAC Communications Services (China National Postal and Telecommunications Appliances Corporation) is a large state-owned enterprise managed by the States Assets Supervision and Administration Commission of the State Council. Their business offerings include sales and logistics support for communications terminals, communications infrastructure projects and international trade and exhibition support
About NIVS IntelliMedia Technology Group, Inc
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, telecommunication, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's ability to timely deliver products; the Company's ability to timely develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov/ ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements
For more information, please contact:
Company Contact:
Jason Wong Vice President Investor Relations Tel: +86-138-299-16919 Email:
Investor Contact:
BPC Financial Marketing United States & Canada John Baldissera Tel: +1-800-368-1217
DATASOURCE: NIVS IntelliMedia Technology Group, Inc
CONTACT: Jason Wong, Vice President Investor Relations of NIVS,
+86-138-299-16919, ; Investor Contact BPC Financial
Marketing, United States & Canada, John Baldissera, +1-800-368-1217 for NIVS
IntelliMedia Technology Group, Inc
Google & others making stand with Chinese govt
could cascade into support for China's Domestic Smart Phone world.
IMO
NIVS Introduces New 3G Surveillance Camera
8:00a ET January 12, 2010 (PR NewsWire)
NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NYSE Amex: NIV), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company has introduced to the marketplace a new 3G surveillance camera as a replacement to a previous model and expects that the product will be available for sale by mid-February.
The application for the new 3G surveillance camera includes security in a commercial or industrial environment or in a home setting for baby or child monitoring, as an example. The camera can be accessed via a mobile phone in addition to computer access. It is expected that the new camera will be marketed through China Unicom's distribution network as well as the NIVS sales channels.
Mr. Tianfu Li, Chairman and CEO of NIVS, commented, "We are pleased to offer an improved version of our previous surveillance product and will continue working to upgrade our other electronics products offerings so as to remain at the forefront of innovation and the latest technologies."
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, telecommunication, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's ability to develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; and changes in the laws of the PRC that affect the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume an obligation to update these forward-looking statements.
For more information, please contact:
Company Contact:
Jason Wong
Vice President Investor Relations
Tel: +86-138 299 16919
Email: jason@nivsgroup.com
Investor Contact:
BPC Financial Marketing
United States & Canada
John Baldissera
Tel: +1-800-368-1217
SOURCE NIVS IntelliMedia Technology Group, Inc.
Still Holding.
40% for me in 3 days. Trigger finger is getting itchy! Market support, P/E is still low & the stock trading at HOD keeps me looking higher.
Nice move!
The lack of interest here is interesting.
Looks good for a trade near term.
May have to let some ride after that if Cell phones take off.
Not to mention that they're base is already profitable.
HUIZHOU, China, Sept 11, 2009 /PRNewswire-Asia-FirstCall via COMTEX/ -- NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company") (NIV, Trade ), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced that the Company has been granted the license to manufacture mobile phones by the Ministry of Industry and Information Technology. The Company will be allowed to operate its mobile phone business in mainland China under NIVS's own brand name.
NIVS currently has the R&D capabilities and intellectual property rights to manufacture 3G mobile phones and has already introduced a dual-mode EVDO/GSM 3G handset to the market. The license will allow the Company to speed up the market entry for such handsets under the NIVS brand name.
Mr. Tianfu Li, CEO and Chairman of NIVS, commented, "We are very excited to be entering the huge market of 3G telecommunications in China. The three giant telecom operators, China Mobile, China Telecom and China Unicom, are projected to invest a total of RMB 400 billion (US$58.6 billion) in 3G infrastructure over the next three years, which we believe will create a lot of revenue opportunities for NIVS. Because building strong relationships with network operators is so important in the 3G era, we have been actively working closely with these top three operators in China. On August 24, we were invited to participate in China Telecom's sales conference for their 3G brand, Tianyi, as well as in their smart phone conference in early September. We are pleased to be working closely with such a big operator and are hopeful to become an OEM supplier for China Telecom. Aside from providing 3G terminal products such as the mobile handset, we also aim to be involved in telecom operators' operational business so as to enhance our sustainable profitability in the 3G industry."
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. Ranked 43rd on Forbes' Top 100 Chinese Research and Development Companies, NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including, but not limited to the Company's reliance on its major customers for a large portion of its net sales; the Company's ability to develop and market new products; the Company's ability to continue to borrow and raise additional capital to fund its operations; the Company's ability to collect aging trade receivables and the effect of a growing doubtful account allowance; the Company's ability to accurately forecast amounts of supplies needed to meet customer demand; exposure to market risk through sales in international markets; the market acceptance of the Company's products; exposure to product liability and defect claims; fluctuations in the availability of raw materials and components needed for the Company's products; protection of the Company's intellectual property rights; changes in the laws of the PRC that affect the Company's operations; development of a public trading market for the Company's securities; and the cost of complying with current and future governmental regulations and the impact of any changes in the regulations on the Company's operations. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the discussed above and in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( www.sec.gov ). All forward-looking statements attributable the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
SOURCE NIVS IntelliMedia Technology Group, Inc.