SHENZHEN, China, April 14, 2011 /PRNewswire-Asia-FirstCall/ --, China Information Technology, Inc. (Nasdaq: CNIT), a leading total solutions provider of geographic information systems (GIS), digital public security technology (DPST) and digital hospital information systems (DHIS) in China, today announced that its newly signed contracts in the first quarter of 2011 were valued at $36 million, an increase of 17.6% compared to the same period last year.
The Company's first quarter contract wins came from 26 provinces and provincial cities in China. Some of the important contracts secured include:
- $3 million contract for the Shuohuang Railway Geographic Information System;
- $1.3 million to supply police-use GIS and PDA equipment for the Shenzhen Traffic Police Mobile Law-enforcement System;
- $1.0 million to build a First Responder Coordination System for the Anxi City;
- $1.0 million to install a police-use GIS platform in Jiaozuo and Hebi City of Henan Province, under China's National PGIS Standardization Project; and
- $0.6 million to construct a digital hospital information systems platform for the Shenzhen Futian Second People's Hospital.
"We are encouraged by the 17.6% year-over-year increase in contract value for the first quarter of 2011," said Mr. Jiang Huai Lin, Chairman and CEO of the Company. "Going forward, we are confident that our industry-leading technology solutions and reputation for quality will enable us to win more contracts as we continue to execute on our business goals."
About China Information Technology, Inc.
China Information Technology, Inc., through its subsidiaries and other consolidated entities, specializes in geographic information systems (GIS), digital public security technology (DPST) and digital hospital information systems (DHIS), with the goal of being the largest GIS software provider in China. Headquartered in Shenzhen, China, the Company's integrated solutions include specialized software, hardware, systems integration, and related services to help its customers improve efficiency in information management. 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 Security Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including: the significance of the first quarter 2011 contract wins to the Company's business and the Company's ability to successfully fulfill its obligations under the contracts; the general ability of the Company to achieve its commercial objectives; the Company's growth prospects, the business strategy, plans and objectives of the Company and its subsidiaries; 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.
SOURCE China Information Technology, Inc.