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

ts due to related parties593,4911,293,866Accrued payroll and benefits

 

3,065,738

 

4,304,988Other payables and accrued expenses9,622,4396,953,561Contingent consideration, current portion

 

-

 

3,267,087Income tax payable3,109,9043,809,708TOTAL CURRENT LIABILITIES 

102,747,826 

100,222,271Long-term bank loans

 

118,036

 

5,863,205Amounts due to related parties, long-term portion12,5525,014,949Contingent consideration, net of current portion

 

-

 

901,171Deferred tax liabilities1,414,1581,824,434TOTAL LIABILITIES 

104,292,572 113,826,030COMMITMENTS AND CONTINGENCIES-- 

 

 

 

 EQUITY 

 

 

 

 Common stock, par $0.01; authorized capital 200,000,000 shares; shares issued and outstanding 2011: 55,182,924, 2010: 52,061,787 shares286,326255,115Treasury stock, 6,000 shares, at cost

 

(11,468)

 

(11,468)Additional paid-in capital101,261,30792,294,350Reserve

 

12,968,985

 

12,968,985Retained earnings104,992,51290,240,665Accumulated other comprehensive income

 

18,559,709

 

11,325,040Total equity of the Company238,057,371207,072,687Non-controlling interest 

18,306,393 

18,503,007Total equity256,363,764225,575,694 

  

 TOTAL LIABILITIES AND EQUITY$360,656,336$339,401,724CHINA INFORMATION TECHNOLOGY, INC.CONDENSED CONSOLIDATED STATEMENT OF INCOMEFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2011 AND 2010Expressed in U.S. dollars (Except for share amounts)(Unaudited)Three Months EndedNine Months EndedSeptember 30,September 
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SOURCE China Information Technology, Inc.
Copyright©2010 PR Newswire.
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