Wuda Geoinformatics Co., Ltd. News
China Information Security Technology, Inc. Announces Newly Signed Contracts in the First Quarter of 2008
Due to the Chinese Spring Festival, the first quarter usually represents the lowest new contract value signed throughout the year. But newly signed contracts in the Company's first quarter nearly doubled, compared to the fourth quarter of 2007. The new contracts represent business in 14 provinces and provincial cities in
''We are pleased to see such strong momentum in our operations in the first quarter, as we reaped the benefits of our expanded product portfolio and further geographic reach,'' said Mr.
The Company also announced that it has successfully integrated the product line of Wuda Geoinformatics Co., Ltd. (''Geo'') into its core business. All of Geo's revenues will be consolidated into the Company starting from
About China Information Security Technology, Inc.
Through its wholly-owned Chinese subsidiary, China Information Security is focused on the development and implementation of large scale, high-tech information security and 3S (''Geographic Information System — GIS, Global Positioning System — GPS and Remote Sensing — RS") related projects. The Company provides a broad portfolio of fully integrated solutions and services, including Information Security (First Responder Coordination Platform, Intelligent Border Control System and Residence Card Information Management System), 3S (GIS, GPS and RS), and Product Sales and Services. Through its exclusive contractual arrangement with iASPEC Software Company Limited (iASPEC), China Information Security has the licenses to numerous registered and copyrighted software applications in
Safe Harbor Statement
This press release may contain certain ''forward-looking statements" relating to the business of China Information Security Technology, Inc., and its subsidiary companies. All statements, other than statements of historical fact included herein are ''forward-looking statements," including statements regarding the effect of the newly signed contracts; the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," ''expects'' or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ) . All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Company Contact: Mr. Michael Lin Vice President, Investor Relations China Information Security Technology, Inc. Tel: +1-949-743-0868 Email: mlin@cistchina.com Investor Relations Contact: Mr. Crocker Coulson President CCG Elite Investor Relations Tel: +1-646-213-1915 (NY office) Email: crocker.coulson@ccgir.com
SOURCE China Information Security Technology, Inc.
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