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SOYO Group Inc. Reports Second Quarter 2007 Results

Posted on: Monday, 13 August 2007, 12:20 CDT

Revenue Increases 124 Percent From Second Quarter Fiscal Year 2006 Company Earns $.02 per Share

ONTARIO, Calif., Aug. 13, 2007 (PRIME NEWSWIRE) -- SOYO Group Inc. (OTCBB:SOYO), an innovative provider of computer, consumer electronics and broadband telecommunications products, today announced their second quarter results for the period ending June 30, 2007.

Earnings per Share was $.02 for six months ending June 30, 2007. This has doubled from the same period in 2006.

The Company reported second quarter revenue of $24,202,395; an increase of 124% compared to $10,787,515 in the second quarter fiscal year 2006. The Company also reported a 74% increase in revenue for the first half of the fiscal year 2007, compared to the first half of the fiscal year 2006.

Gross sales in South America more than doubled in the second quarter, increasing from $2.0 million in the second quarter fiscal year 2006 to $4.6 million in the second quarter fiscal year 2007, due to an increased presence in the area. The Company saw an increase in Sales and Marketing costs in the second quarter.

Ming Chok, CEO of SOYO said, "We are pleased to announce triple digit growth for SOYO for the second quarter. This quarter we reached a few of our set goals. We have begun to ship our Le Vello Designer Furniture Brand to distributors in the United States and Mexico. We've also begun shipping our Prive line to Wal-Mart Canada stores. In addition, we have added an additional National Retailer for our LCD monitors. We hope to continue with successful growth, and plan to continue to reach more of our goals in the second half of the fiscal year."

About SOYO Group

SOYO Group Inc. is an innovative provider of consumer electronics such as, LCD Monitors, LCD Televisions, Bluetooth, Portable Storage, LCD Furniture and broadband telecommunications products and services. Headquartered in Ontario, California, with additional sales offices in South America, SOYO Group sells its products through an extensive network of authorized distributors, resellers, system integrators, VARs, retailers, mail-order catalogs and e-tailers. Products are sold under the SOYO, Dragon, Onyx, Dymond, Honeywell, Le Vello, and Prive brand names. For more information, please visit http://www.soyogroup.com.

"Safe Harbor" Statement

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements to the future financial performance of the company. The words "plan,""confident that,""believe,""scheduled,""expect," or "intend to," and similar conditional expressions, are intended to identify forward-looking statements within the meaning of the Securities Act of 1933, as amended. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, successful performance of internal plans, product development and acceptance, the impact of competitive services and pricing, general economic risks and uncertainties, and various other information detailed from time to time in the company's filings with the United States Securities and Exchange Commission. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Please refer to the company's filings at http://www.sec.gov.

Third-party statements contained herein and information contained on any third-party Web site are not endorsed by or adopted by the company, nor has their accuracy been verified by the company.

This news release was distributed by PrimeNewswire, www.primenewswire.com

CONTACT: SOYO Group Inc. Media Contact Ashten Giardine, Public Relations (909) 292-2504 ashteng@soyogroup.com

Source: PrimeNewswire

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