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

compensation ("SBC")1,130,0001,130,000Amortization

323,083

422,697

950,820

1,349,745Change in fair value of contingent consideration *

(12,311)

(240,718)

(1,481,757)

(940,986)Net income (without SBC, amortization and contingent consideration)

1,238,599

11,921,747

14,220,910

27,781,704Weighted Average Number of Shares OutstandingBasic

53,801,841

51,466,927

52,994,328

51,377,933Diluted

53,801,841

51,466,927

52,994,328

51,377,933Earnings per share (without SBC, amortization and contingent consideration)Basic

$0.02

$0.23

$0.27

$0.54Diluted

$0.02

$0.23

$0.27

$0.54* Represents a gain from the change of fair value of the contingent consideration for the acquisition of Huipu Electronics (Shenzhen) Company Ltd. as at the respective reporting dates according to FASB ASC 805 – Business CombinationsConference CallChina Information Technology will host a corresponding conference call and live webcast before the market opens on Wednesday, November 9, 2011 at 7:00 am Eastern Standard Time (EST) (which is also 8:00 pm in Beijing and Hong Kong).

The dial-in details for the live conference call are as follows:

- U.S. Toll Free Number:

+1 866 519 4004- International Dial-in Number:+65 6723 9381- China Toll Free Number:

800 819 0121- China Toll Free Mobile Number:

400 620 8038- Hong Kong Toll Free Number:

800 930 346Conference ID: 22149721A live and archived webcast of the call will be available on the Investor Relations section of China Information Technology's website at http://www.chinacnit.com.

A telephone replay of the call will be available beginning two hours after the conclusion of the conference call through 11:59 pm Eastern Standard Time, November 18, 2011.

The dial-in details for
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SOURCE China Information Technology, Inc.
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