EXHIBIT 99.1
 
Jingwei International Announces Unaudited Preliminary Results for Fiscal Year 2009

 
SHENZHEN, China, March 5 /Xinhua-PRNewswire-FirstCall/ --Jingwei International Limited (OTC Bulletin Board: JNGW; "Jingwei" or the "Company"), one of the leading providers of data mining and interactive marketing services in China, today announced unaudited preliminary financial results for the fourth quarter of 2009 and for the year ended December 31, 2009. The Company will release full financial results when filing its Form 10-K on or before March 31, 2010.
 
 
·  
Net revenue for Q4 2009 is expected to increase to between $13.2 to $13.5 million from $8.8 million in Q3 2009, or 50%-53% growth.
 
·  
Net income for Q4 2009 is expected to increase to between $2.8 and $3.3 million from $1.46 million in Q3 2009, an increase of over 90%.
 
·  
Free cash flow (a non-GAAP measure defined as operating cash flows minus capital expenditures and dividends) is expected to be approximately $8.4 million in 2009.
 
·  
Cash and cash equivalents at the end of 2009 is expected to be approximately $10.2 million compared to $5.5 million at the end of 2008.
 
The above results are subject to the completion of the company’s annual audit.

In addition, the Company announced that for fiscal 2010, it is forecasting to achieve total revenue of between $37.5 million and $42.0 million, net income of between $7.3 million and $8.2 million, and earnings per diluted share of between $0.43 and $0.48.

Rick Luk, Chief Executive Officer of Jingwei International stated, “We are pleased to have regained momentum with the continuing improvement of revenue and overall performance in the fourth quarter and second half of 2009 compared to the first half of the year.  Our continued efforts in working capital management resulted in great improvement in free cash flow as well as the balance of cash and cash equivalents.  Based on the results, we believe management actions undertaken in the second half of the year continued to be on track; and we expect this momentum to continue into 2010 as the Chinese and global economies continue to recover.

“As we step into 2010, we plan to continue to focus on strategic initiatives in progress, which include the continuing growth of our proprietary consumer database, the addition of mobile VAS and mobile Internet capabilities to strengthen our portfolio in the data mining segment, as well as making further investment in enhancing the capabilities and extending the geographic reach of our interactive marketing services to benefit from the remarkable growth of the Chinese consumer market and mobile Internet services.  With the anticipated revenue contribution from these initiatives and recent significant deal wins from major wireless carriers, we hope to achieve strong growth in both revenue and earnings in 2010."

 
 

The following information was filed by Jingwei International Ltd (JNGW) on Friday, March 5, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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