Marbridge Daily

<- November 14, 2011 ->

AIVTech Q3 2011 Revenue Down 25% YoY

SEC, 11/14/11

Consumer electronics manufacturer AIVTech (OTCBB: AIVI) has announced its Q3 2011 financial results with revenue of USD 20.67 mln, down 24.6% YoY from USD 27.42 mln. Revenue for the nine months ending September 30, 2011 was USD 54.43 mln, down 3.0% YoY from USD 56.10 mln.

Net income for Q3 2011 was USD 3.27 mln, down 25.0% YoY from USD 4.36 mln a year ago. Net income for the nine months ending September 30, 2011 was USD 7.93 mln, down 18.9% YoY from USD 9.78 mln.

Q3 2011 revenue from furniture audio was USD 9.70 mln, down 28% YoY. Revenue from multi-media speakers was USD 5.83 mln, up 73% YoY. Revenue from LED TV sales was USD 5.15 mln, down 51% YoY.

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