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SHENZHEN, China, March 31, 2011 /PRNewswire-Asia-FirstCall/ -- Jingwei International Limited (Nasdaq: JNGW), or Jingwei, a leading provider of data mining, interactive marketing and software services in China, today announced its consolidated financial results for the fourth quarter and full year ended December 31, 2010.
Fourth Quarter 2010 Financial Results
Net revenue for the fourth quarter of 2010 increased 4% to $14.0 million, as compared to $13.5 million in the same quarter last year. The moderate increase was attributed to a continued strong growth of the software service segment, while revenues from the data mining segment trailed the results in the same quarter in 2009. Gross profit increased 24% to $6.1 million in the fourth quarter of 2010, as compared to $4.9 million in the previous year.
Full Year 2010 Financial Results
Net revenue increased 24% year over year to $37.6 million in 2010 from $30.3 million in 2009, primarily driven by continuous robust demand for our software and system integration solutions in the telecommunications and power sectors, offset by a small decline in revenues from the data mining segment. Gross profit increased 61% to $18.1 million in 2010 from $11.3 million in 2009.
"Looking ahead, we expect the strong growth of 3G user base, 3G related value-added services and mobile internet marketing should continue to drive our business", said Rick Luk, CEO of Jingwei.
For more information, visit www.jingweicom.com.
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