NIVS IntelliMedia Technology
While China had some of the most successful IPOs of 2009, it also had the worst. NIVS Intellimedia Technology ( NIV) makes audio and video consumer products like LCD televisions and DVD players. The company came to market on March 13 pricing shares at $3.50 each. Since then the stock has sank 37.4% to close on Dec. 8 at $2.19. In its third quarter, profit grew 22% to $5.8 million, or 14 cents a share, compared with $4.8 million, or 13 cents, in the year-ago period. Revenue also jumped 6% to $52.4 million from $49.4 million in the third quarter last year.