SOURCE: Phoenix International Ventures

Phoenix International Ventures

March 31, 2010 23:31 ET

Phoenix International Ventures, Inc. Announces 2009 Year End Record Results: Revenues Grew by 67% to Record $3.7M; Backlog Grew by 45% to $8.3M for December 31st, 2009

CEO: "Sales to Major Aerospace Contractors and Acting as an OEM for the USAF, Well Position Us for a Significant Breakthrough in the Multibillion Defense Aerospace Markets"

CARSON CITY, NV--(Marketwire - March 31, 2010) -  Phoenix International Ventures, Inc. (OTCBB: PIVN) ("Phoenix" or "the Company"), an Aerospace Defense company, announced its financial results for the twelve months ended December 31, 2009.

Zahir Teja, President and CEO of Phoenix, stated: "In 2009, we continued our growth momentum with record-breaking revenue and backlog. During the year we extended our backlog to reach $8.3M and continued the process to become a leader in the engine trailers market. We have finished the design phase of the U.S. Air Force contract to design and manufacture the new age of aircraft engine trailers. Being the original equipment manufacturer of this major ground support equipment is expected to lead to significant future orders worth tens of millions of dollars."

For the twelve months ended December 31, 2008, revenues grew by 67% to $3,663,429 compared to $2,180,804 in 2008. Gross profit grew to $972,231, in comparison to $846,642 for the same period in 2008. Net loss for 2009 amounted to $246,490 as compared to a $360,774 net income in 2008 which was primarily as a result of a reversal of contingency in the amount of $566,154 in 2008 which did not recur in 2009.

Zahir Teja, our president and CEO, added: "During the last years we invested our efforts in proving our capabilities in providing valuable solutions to the Defense/Aerospace market. We focused on offering quick and cost effective solutions including the remanufacturing and life extension of aging support equipment that saves money, saves time and in this case, we are also a classic green company by recycling aging equipment through which we conserve energy and raw materials. We are delighted that our solutions are positively welcomed by the users and believe that we can become a bigger more profitable company for the benefit of our customers, employees and shareholders. I believe that our accomplishments in 2009 emphasize the fundamental strength of Phoenix's business model and our ability to deliver continuous, profitable growth. With Sales to major Aerospace contractors and being an OEM for the USAF, we believe we are well positioned for a significant breakthrough in the multibillion dollar Defense Aerospace markets."

About Phoenix International Ventures, Inc.

Phoenix International Ventures, Inc. of Carson City, Nevada, was established in order to acquire and develop business in the defense and aerospace market. In January 2007, the company acquired 100% of Phoenix Aerospace Inc., which specializes in Design, Engineering, Manufacturing, Re-manufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under the government and/or customer contract and its other ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans; product development and performance; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.

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