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China Inf Security Tech. - Bullische Flagge - Fundamental Gut - Aktienrückkauf - 500 Beiträge pro Seite

ISIN: US16950L1098 | WKN: A1C36X

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http://www.chinacnit.com CNIT


Q2 Zahlen

Second Quarter 2010 Financial Highlights
-- Revenues increased 30% YoY to $33.52 million
-- Gross Margin expanded 250 basis points
-- Operating Margin expanded 290 basis points
-- Attributable Net Income increased 19.9% YoY to $9.35 million
-- Non-GAAP Fully Diluted EPS was $0.19 vs. $0.17 a year ago
-- Cash flow from operations reached $9.80 million
-- New Record High Backlog of $52.27 million representing 50.7% YoY growth
-- Reaffirms FY2010 Revenue and Adjusted Net Income Guidance
China Information Technology Awarded Follow-on Contract to Provide its Medical Case Statistics Software to a Total of 2,000 Hospitals in Guangdong

Sep. 29, 2010 (PR Newswire) --

SHENZHEN, China, Sept. 29 /PRNewswire-Asia-FirstCall/ -- China Information Technology, Inc. (Nasdaq: CNIT), a leading total solutions provider of Geographic Information Systems (GIS), digital public security and hospital information systems in China, today announced it has been awarded a follow-on exclusive contract with the Guangdong Department of Health to provide its patented Medical Case Statistics Software (the "MCS Software"), a component of the Company's Electronic Medical Record (EMR) system, to an additional 1,000 hospitals in Guangdong province over the next five years. This contract is an extension to the initial exclusive contract signed with the Guangdong Department of Health in 2009 which required the MCS Software to be adopted by 1,000 hospitals in Guangdong by the end of 2010. When completed, this follow-on contract will bring the total number of Guangdong hospitals that will be running on the Company's MCS Software to 2,000.

Guangdong is one of the most populous provinces in China and home to over 96 million people. As the country's healthcare continues to improve, so does the need for advanced digital medical systems and software. CNIT's patented MCS Software facilitates the integration of medical records, including records regarding health examinations, medical care, immunity or infectious diseases, into one electronic, centralized system so that doctors within a network can review a patient's complete medical history. This system allows for the minimization of both medical errors and medical claims fraud, and increases efficiency in delivering healthcare services. In addition, the system offers public healthcare authorities real-time data in monitoring the spread of diseases, thereby serving as a tool for disease control, as well as public healthcare forecasting and planning.

"We believe that this exclusive contract secures our de facto standard-setting position in medical records management in Guangdong province and demonstrates the network effect of our software, in that the wider our customer base expands, the more attractive and effective our network will be for new users," said Mr. Jiang Huai Lin, CNIT's Chairman and CEO. "We expect that our contract win will provide us with additional competitive advantages in marketing our MCS Software in other provinces and regions, as well as in introducing our comprehensive Hospital Information Systems to existing clients."

About China Information Technology, Inc.

China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in Geographic Information System ("GIS"), digital public security and hospital information systems, with the goal of being the largest GIS software provider in China. Headquartered in Shenzhen, China, the Company's total solutions include specialized software, hardware, systems integration, and related services organized into three business segments - Geographic Information Systems ("GIS"), Digital Information Security Technology ("DIST"), and Digital Hospital Information Systems ("DHIS"). To learn more about the Company, please visit its corporate website at http://www.chinacnit.com .

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of China Information Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the significance of the Company's follow-on contract win with the Guangdong Department of Health to the Company's business and results of operations and the Company's ability to successfully perform under the contract; the Company's ability to effectively market its MCS Software in other provinces and regions and further introduce its comprehensive Hospital Information Systems to its existing MCS Software clientele; the business strategy, plans and objectives of the Company and its subsidiaries, including its aspirations to serve as the standard-setter in medical records management in Guangdong province; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For further information, please contact:

China Information Technology, Inc.
Iris Yan
Tel: +86-755-8370-4767
Email: ir@chinacnit.com

Kathy Li
Tel: +1-480-614-3036
Email: kli@christensenir.com

Teal Willingham
Tel: +86-10-5971-2001
Email: twillingham@christensenir.com

SOURCE China Information Technology, Inc.

Iris Yan, China Information Technology, Inc. at +86-755-8370-4767 or ir@chinacnit.com; Christensen: Kathy Li at +1-480-614-3036 or kli@christensenir.com; Teal Willingham at +86-10-5971-2001 or twillingham@christensenir.com

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