WIRX Wireless Xcessories Group Inc (CE)

The Wireless Xcessories Group, Inc. (Pink Sheets:WIRX), a nationwide manufacturer and distributor of electronic and cellular accessories, announced unaudited fourth quarter 2009 and year end results for December 31, 2009.

SALES

The Company reported fourth quarter revenue of $4,260,000 compared to $5,002,000 for the same period in fiscal 2008 or a decline of 14.8%. Full year comparisons were revenue of $17,934,000 compared to $24,196,000 for fiscal 2008, a decrease of approximately 25.9%.

Net Income Comparison

The Company had 2009 fourth quarter net income of $113,000 or $0.03 per share, compared to net income of $16,000 or $0.00 per share in the same period for 2008. Full year comparisons were net income of $841,000 or $0.20 per share, compared to $103,400 or $0.02 per share in the same period for 2008.

Income from Operations

12 month Income from operations were $793,000 for 2009 vs. $853,000 for 2008. 4th quarter Income from operations were $123,000 for 2009 vs. $290,000 for 2008. The main difference between Income from Operations and reported Net Income was caused by a large increase in value of the Company's investment in Marketable Securities in 2009 versus a steep decline in 2008.

Key Financial Comparisons

The Company ended the year with working capital of approximately $7.3 million, up from approximately $6.7 million at December 31, 2008. The Company has no debt, and total equity is approximately $8,000,000 as of December 31, 2009.

Dividend Declaration

The Board of Directors has declared a dividend of $0.10 per share payable to stockholders of record on March 22, 2010. Steve Rade, CEO, stated, "In the fourth quarter we reacted to an industry slowdown and highly competitive business environment by increasing our promotions and offering aggressive pricing to match our competitors. This negatively affected our margins. At the same time, we increased our product line by more than 400 new items which set the stage for a recovery of profitable sales growth in 2010. The Company has continued its cost cutting and restructuring leading to a drop of 18% in operating expenses in the fourth quarter 2009 compared to 2008."

About Wireless Xcessories Group

Wireless Xcessories Group, Inc. designs, manufactures and distributes accessories for cellular phones. The Company offers in excess of 3,000 items that include batteries, hands free devices, car and travel chargers, as well as a variety of carrying cases. The Company sells to dealers and distributors through an in-house sales force and directly from its website, http://www.wirexgroup.com.

CONTACT: Wireless Xcessories Group

Dan Kenderdine

800-233-0013 ext. 1404