Key Developments: China Information Technology Inc (CNIT.O)

CNIT.O on Nasdaq

4.91USD
28 Aug 2014
Price Change (% chg)

$0.06 (+1.24%)
Prev Close
$4.85
Open
$4.90
Day's High
$4.95
Day's Low
$4.83
Volume
2,035
Avg. Vol
75,568
52-wk High
$7.49
52-wk Low
$3.31

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Latest Key Developments (Source: Significant Developments)

China Information Technology Inc (CNIT) announces strategic partnership with CITIC Securities
Monday, 4 Aug 2014 07:00am EDT 

China Information Technology Inc:Entered into a strategic partnership with CITIC Securities Co., Ltd. (CITIC).Pursuant to partnership agreement, CITIC will provide variety of corporate financial services including mergers and acquisitions, pension management, and brokerage services on needed basis.During CNIT's strategic transition from traditional IT system integration to cloud-based internet platform technology, CITIC will assist company in exploring various alternatives in China to enhance long-term shareholder value.In addition, CNIT and CITIC will collaborate to restructure CNIT's traditional IT system integration business, which generates lower margin and higher receivables than the emerging cloud-based internet platform services.  Full Article

China Information Technology Inc won WeMedia Platform and Public InfoCloud Contracts
Tuesday, 6 May 2014 07:00am EDT 

China Information Technology Inc:Won important contracts in its core WeMedia and Public InfoCloud businesses with total value of about $3.0 mln.Under each contract, Co would provide comprehensive commercial-use WeMedia platform comprising of CNIT's proprietary Public InfoCloud and smart cloud display P-TV/P-Box.  Full Article

China Information Technology Inc gives FY 2014, 2015, 2016 outlook
Tuesday, 15 Apr 2014 07:00am EDT 

China Information Technology Inc:Sees FY 2014 total revenue to be in the range of $100 - $120 million.Adjusted net income in the range of $6 - $8 million, excluding any non-cash expenses as a result of employee stock awards, and amortization of intangible assets and land use rights.In addition, it expects to achieve 50 pct adjusted net income growth in FY 2015 and FY 2016.  Full Article

China Information Technology Inc announces resignation of chief financial officer
Friday, 14 Mar 2014 06:00am EDT 

China Information Technology Inc:Daniel K. Lee, Chief Financial Officer (CFO), has tendered his resignation for personal reasons.Lee will remain with for transition period till April 15.Board will initiate search for his successor immediately.  Full Article

China Information Technology Inc Announces $9 Million Share Repurchase
Friday, 4 Oct 2013 07:00am EDT 

China Information Technology Inc announced that the Company's Board of Directors has approved a $9.0 million share repurchase program.  Full Article

China Information Technology Inc Announces $9 Million Share Repurchase
Friday, 4 Oct 2013 07:00am EDT 

China Information Technology Inc announced that the Company's Board of Directors has approved a $9.0 million share repurchase program.  Full Article

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