JITE ANNOUNCES THIRD QUARTER RESULTS

Trading Symbol: JTI

TORONTO, Nov. 30 /CNW/ - JITE Technologies Inc. ("Jite" or the "Company") announces today that it has filed its interim financial statements and management's discussion and analysis (MD&A) for the second quarter ended September 30, 2010. The detailed financial statements and MD&A can be found on www.sedar.com.

Third Quarter and First Nine Months of 2010 Financial Highlights

• Sales: Sales for the third quarter of 2010 was $5.4 million, a growth of 27% compared to $4.3 million in the third quarter of 2009. Sales for the first 9 months of 2010 was $14.7 million, a growth of 24% from $11.8 million in the first 9 months of 2009.
• Gross profit: Gross profit for the third quarter of 2010 was $1.45 million, a decrease of 6% compared to $1.54 million in the third quarter of 2009. Gross profit for the first 9 months of 2010 was $4.28 million, an increase of 14% compared to $3.75 million in the first 9 months of 2009.
• Operating Income: Operating income before taxes for the third quarter of 2010 was $525,573, a decrease of 33% compared to $782,404 in the third quarter of 2009. Operating income for the first 9 months of 2010 was $1,699,640, a growth of 14% from $1,434,596 from the first 9 months of 2009.
• Net Income and Earnings per Share: net income was $606,176 for the third quarter of 2010, a decrease of 17% compared to $728,224 in the third quarter of 2009. Net income for the first 9 months of 2010 was $1,719,477, a growth of 27% from $1,348,678 in the first 9 months of 2009. Basic and diluted earnings per share were $0.029 for the third quarter of 2010, a decrease of 17% from $0.035 in the third quarter of 2009. Basic and diluted earnings per share were $0.082 for the first 9 months of 2010, an increase of 28% from $0.064 in the first 9 months of 2009.
• Cash flows generated by operation activities: A negative of $694,930 for the third quarter of 2010 compare to a positive of $165,294 for the third quarter of 2009. A negative of $770,929 for the first 9 months of 2010 compare to a positive $3.3 million for the first 9 months of 2009. The significant decrease was mainly due to change in non-cash working capital items.

"Jite is performing well with solid growth in sales." says Winfield, CFO of Jite. "The spin-off of the workshops is transitioning smoothly and moving forward as expected."

About JITE

JITE designs and manufactures electronic and electrical connection devices for security, industrial control, automation, telecommunication, and power supply industries. JITE is headquartered in Toronto, Canada and carries out research and manufacturing operations in Shenzhen China at its ISO 9001 certified facility.

This press release contains forward-looking statements which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information:

JITE Investor Contact: eXavier Peterson or Winfield Ding, Chief Financial Officer, Tel: [phone]; www.jite.com