Seeking Alpha

MissionIR's  Instablog

MissionIR
Send Message
We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices. It is our unwavering commitment to connect the investment community with companies that have great potential and a strong dedication to... More
My company:
MissionIR
My blog:
MissionIR Blog
  • China TransInfo Technology Corp. (CTFO) Reports Fourth Quarter And Full Year 2011 Results 0 comments
    Mar 29, 2012 2:47 PM | about stocks: CTFO

    China TransInfo Technology Corp. is a leading provider of comprehensive intelligent urban and highway transportation systems in China. The company is a leading transportation information products and solutions vendor and aims to be the largest real-time transportation information and major fleet management service provider in China.

    The company has successfully developed a first-generation vehicle monitoring and control platform for the Ministry of Transportation. To date, it has recorded more than 1.32 million vehicles registered on the platform and recorded roughly 460,000 active users. China TransInfo has also recently brought into operation its Freight Transport Safety Information Monitoring and Services System as well as the Passenger Coach Public Service Platform.

    China TransInfo today announced financial results for both the fourth quarter and full year 2011. Revenues in the fourth quarter increased 24.3% year-over-year to $48.2 million from $38.8 million. The increase in revenue was driven primarily by a strong performance in the highway IT services division. That solid performance also drove full year revenues up by 36.1% to $167 million from $122.7 million in the year ago period. Adjusted net income for the fourth quarter came in at $5.1 million or 20 cents per share. For 2011 as a whole, adjusted net income came in at $15.1 million or 60 cents a share.

    The company has received a preliminary proposal from its chairman and CEO, Shudong Xia, to take the company private. He stated that he is willing to offer $5.65 a share in cash for all the outstanding shares. Mr. Xia already owns 27.85% of the common stock.

    For additional information about China TransInfo Technology, please visit the company's website at www.chinatransinfo.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: CTFO
Back To MissionIR's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.