Xiu-Shui today reported its unaudited financial results for the fourth quarter and year ended December 31, 2009.

Fourth Quarter 2009 Highlights
— Revenue increased 166.1% year-over-year to $28.4 million
— Gross profit expanded 64.9% year-over-year to $10.0 million
— Operating income grew 26.1% year-over-year to $5.1 million
— Adjusted net income increased 22.3% year-over-year to $5.1 million, or
$0.23 per fully diluted share
— Launched three new real-time traffic mobile phone applications and
expanded real-time traffic application coverage to Shenzhen, Tianjin
and Changzhou
— Awarded a provincial highway toll settlement and billing system
contract in Shanxi Province valued at approximately RMB 26 million, or
approximately USD $3.8 million
— Awarded an intelligent transportation system contract in Hubei Province
valued at approximately RMB 114 million, or approximately USD $16.7
million

Fiscal 2009 Highlights
— Revenue increased 116.8% year-over-year to a record $63.7 million
— Gross profit expanded 53.8% year-over-year to $25.4 million
— Operating income grew 20.0% year-over-year to $13.7 million
— Adjusted net income increased 19.7% to $13.6 million, or $0.60 per
fully diluted share
— As of December 31, 2009, cash and cash equivalents totaled $27.4
million

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