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China Information Technology, Inc. Announces Third Quarter 2011 Results
Date:11/9/2011

288;

　

　CURRENT ASSETS　

　

　

　Cash and cash equivalents

$

5,179,223

$

18,166,857Restricted cash

　

10,835,585

　

8,344,147Accounts receivable:Billed, net of allowance for doubtful accounts of $ 6,690,000 and $6,073,000, respectively

　

21,464,972

　

31,172,599Unbilled83,085,83067,622,656Bills receivable

　

551,437

　

201,003Advances to suppliers9,587,3359,246,437Amounts due from related parties

　

64,636

　

330,876Inventories, net of provision of $1,030,000 and $578,000, respectively32,886,62319,931,866Other receivables and prepaid expenses

　

4,940,203

　

2,463,562Deferred tax assets1,383,5721,565,006TOTAL CURRENT ASSETS　

169,979,416　

159,045,009Deposit for software purchase

　

1,721,500

　

3,034,000Deposit for purchase of land use rights27,406,97426,566,377Long-term investments

　

2,387,829

　

3,296,252Property, plant and equipment, net88,604,44479,348,883Land use rights, net

　

1,956,630

　

1,929,194Intangible assets, net14,113,89813,725,274Goodwill

　

53,657,569

　

51,918,275Deferred tax assets828,076538,460TOTAL ASSETS$360,656,336$339,401,724LIABILITIES AND EQUITY　

　

　

　CURRENT LIABILITIES　

　

　

　Short-term bank loans

$

35,600,638

$

35,326,566Accounts payable

　

17,717,509

　

17,249,334Bills payable28,023,13520,536,475Advances from customers

　

5,014,972

　

7,480,686Amoun
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SOURCE China Information Technology, Inc.
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