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.

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