CIST: Q1 2010 New Contracts Up 65% YoY
PR Newswire, 4/15/10
Chinese information security and geographic data solutions provider China Information Security Technology (CIST) (Nasdaq: CPBY) has announced that its newly signed contracts in the first quarter of 2010 were valued at USD 30.6 mln, an increase of 65% compared to the first quarter of 2009.
In Q1 2010, CIST won contracts from clients in 23 provinces and provincial cities in China, including a USD 2.1 mln contract for the Wuhan Digital City Project; a USD 1.1 mln contract for the Maoming City Police-use GIS Project; a USD 1 mln contract for the Chengdu City Railway GIS Project; and a USD 0.5 mln contract for the Dongguan Fenggang Hospital PACS Project.
Of this quarter's contracts, 60% were for CIST's Digital Information Security Technology ("DIST") products, 33% were for its Geographic Information Systems ("GIS") products and 7% related to its Digital Hospital Information Systems ("DHIS") products. Management expects that the majority of these contracts will be recognized as revenue in 2010.
Keywords: supply contract hardware information security revenue China Information Security Technology CPBY
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