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02-20-2007
DIGITAL VISION INC. ANNOUNCES 4TH QUARTER 2006 RESULTS
HONG KONG, February 20, 2007 - Digital Vision Inc. (DVi) today announced its business results* for the 4th quarter and calendar year of 2006. For the three months ending December 31, 2006 revenue increased 40% versus the prior quarter. In 2006 unit shipments increased every quarter (excluding trading in early 2006 which is no longer strategic for DVi due to low margins), and exceeded three and one half million units for the calendar year 2006. All shipments were for consumer devices such as MP3 players, personal media players, DVD recorders, etc . In the 4th quarter DVi extended its product range by shipping initial units of both flash memory and small form factor displays, to complement the core product lines of integrated circuits and hard disk drives. The company now provides the majority of the major bill-of-material (BOM) components used in consumer electronics applications along with providing complete solution designs. Also during the quarter DVi won many new customers, bringing its total customer base to over 170, mostly based in mainland China Commenting on the results, Steve Wong, president of DVi, said, "We are very proud of the results from our first year of operations. The consumer electronics market overall, and especially in China, is extremely competitive. For our company to exceed our very aggressive targets is extremely rewarding. We are very pleased that the strategic actions we successfully implemented throughout 2006 and our unique solution design capabilities have delivered the expected business results" Pete Andreyev, chairman of DVi, added, "The performance of the entire DVi team and our valued partners was exceptional, and I compliment them. We exceeded our shareholders' expectations in all areas, most importantly being profitable in every quarter excluding extraordinary expenses in Q4. Our business objectives continue to be simple: grow unit shipments, revenue, and profit every quarter. With the explosive growth in the consumer electronics market, coupled with our leading design solution capabilities and strong partnerships, we are very optimistic entering the New Year." * As a privately held company, DVi does not release detailed financial results. The figures within this statement are non-audited. DVi's 2006 fiscal year was from April 1st, 2006 through December 31st, 2006. Moving forward DVi's calendar year will be from Jan 1st through December 31st every year. About Digital Vision Inc.
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