SOURCE: Phoenix International Ventures

November 15, 2007 15:02 ET

Phoenix International Ventures, Inc. Announces Third Quarter Results

CARSON CITY, NV--(Marketwire - November 15, 2007) - Phoenix International Ventures, Inc. (OTCBB: PIVN) ("Phoenix" or "the Company"), an Aerospace Defense company, announced financial results for the three and nine months period ended September 30, 2007.

Zahir Teja, President and CEO of Phoenix, stated, "During the quarter we successfully relocated our operations to a newer plant that will enable further growth, moreover the new location is in a federal certified, Highly Underutilized Business Zone (or HUB zone). Businesses which operate in HUB zones adhere to certain requirements and are certified by the federal government, which makes them potentially entitled to certain government incentives. During the quarter we supplied fewer products than average, partly because of the relocation of our operating facility. Our Backlog as of September 30, 2007 stands at approximately $2,982,000, the largest it has ever been. Since then we announced an additional order for $656,000, this record backlog and the continuous support from our distinctive customers set the base for a successful 2008. We are committed to work hard and make Phoenix a significant player in its special niche."

For the nine months ended September 30, 2007 revenues were $789,682 compared to $1,031,158 in the same period 2006. Loss from operations amounted to $504,522 in comparison to $66,034 in operational income for the same period in 2006. Net loss amounted to $517,820 in comparison to $7,683 for the same period in 2006. For the three months ended September 30, 2007 total revenues amounted to $77,192, compared to $349,614 for the same period in 2006. Loss from operations amounted to $272,589 in comparison to $11,658 operational income for the same period in 2006. Net loss amounted to $277,137 in comparison to $63,155 for the same period in 2006

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. The company has acquired 100% of Phoenix Aerospace Inc., which specializes in manufacturing, remanufacturing and upgrading of Ground Support Equipment (GSE) which is primarily used to support military aircraft.

Certain statements in this news release by Phoenix International Ventures, Inc. are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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.

Contact Information