China Information Technology, Inc. company info

CIK 1350684
IRS Number 591944687
State of incorporation None
Business address 21ST FLOOR, EVERBRIGHT BANK BUILDING
ZHUZILIN, FUTIAN DISTRICT
SHENZHEN, GUANGDONG
F4
518040
Mail address 21ST FLOOR, EVERBRIGHT BANK BUILDING
ZHUZILIN, FUTIAN DISTRICT
SHENZHEN, GUANGDONG
F4
518040

Short summary

China Information Technology, Inc. is a China company, with head office located at 21St Floor, Everbright Bank Building Shenzhen, Guangdong, China 518040. The company achieved a record breaking net income in 2010 - 34.40 million USD. In 2011 the company owned a total of 351.68 million USD worth of assets, including 171.47 million USD worth of current assets. 2010 was the year when the company amassed the most assets.

China Information Technology, Inc. Income Statement

Name [in Millions USD]2008200920102011Trends
Gross Profit 50.6570.5644.32
Research and development 2.713.024.48
Operating Income (Loss) 32.1642.569.53
Interest expense 0.391.542.95
Income Tax Expense (Benefit) 3.897.860.80
Net income 30.0934.407.91

China Information Technology, Inc. Balance Sheet

Name [in Millions USD]2008200920102011Trends
Cash and cash equivalents 9.5717.759.637.38
Accounts Receivable, Net, Current 35.7123.22
Inventories 24.8723.93
Deferred income taxes 1.233.23
Goodwill 53.0146.58
Intangible Assets, Net (Excluding Goodwill) 13.9314.32
Total assets 357.55351.68
Current assets 170.69171.47
Accounts payable 15.0717.29
Taxes Payable, Current 2.873.11
Total current liabilities 103.14116.67
Deferred income taxes 1.451.29
Total liabilities 110.68118.06
Common Stock, Value, Issued 0.260.29
Retained Earnings (Accumulated Deficit) 104.0675.77
Accumulated Other Comprehensive Income (Loss), Net of Tax 16.0621.59

China Information Technology, Inc. Cash Flow

Name [in Millions USD]2008200920102011Trends
Net income 30.0934.407.91
Depreciation 4.077.7210.85
Amortization of Intangible Assets 1.791.791.76
Deferred Income Tax Expense (Benefit) -1.270.11-1.69
Accounts receivable 24.8527.894.54
Inventories 1.228.946.17
Net Cash Provided by (Used in) Operating Activities 11.4826.9516.34
Payments to Acquire Property, Plant, and Equipment 16.8729.8616.78
Net Cash Provided by (Used in) Investing Activities -14.66-60.87-18.63
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures 0.182.401.14
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures 0.182.401.14
Proceeds from Issuance of Common Stock 09.380
Payments for Repurchase of Common Stock 0.0100.68
Net Cash Provided by (Used in) Financing Activities 7.1137.08-2.17
Cash and Cash Equivalents, Period Increase (Decrease) 3.914.69-4.15